Coca-Cola India Private Limited has acquired a minority stake of 15% in Thrive (Hashtag Loyalty Private Limited).

The General Corporate Practice of Cyril Amarchand Mangaldas advised Coca-Cola India on the transaction. The scope of work included regulatory advisory; conducting due diligence on the business of Hashtag; negotiating and aligning interests of the existing investors and Coca-Cola India; and drafting the transaction documents.

The transaction team was led by Akila Agarwal (Partner& Head – Merger & Acquisition) and Mukul Sharma (Partner); with support from Neham Tayal (Principal Associate), Shreya Teewari (Associate), Udyan Shrivastava (Associate), Aakanksha Bhardwaj (Associate), and Anushka Sharma (Associate).

A team led by partners Arun Prabhu and Anirban Mohanpatra, with support from Mahim Sharma (Associate) and Soumya Tiwari (Associate) assisted on the IP-IT aspects of the transaction.

Luv Saggi (Senior Associate) and Himaa Sudhir (Associate) assisted with employment law aspects of the transaction.

Vijay Pratap Singh Chauhan (Partner) advised on the competition law aspects of the transaction.

Thrive is a Mumbai-based food-tech company that offers a modern ordering system for restaurants to set up their direct ordering platform. Thrive has also launched beta version of its discovery platform and consumer application that offers customers a unique food discovery and ordering experience. Currently, over 14,000 restaurants across 80 cities in India use Thrive. 

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