Trimex Foods, the master franchisee for global restaurant brands Chili’s Grill & Bar, Cinnabon and Paul Bakery in India, has initiated discussions to bring in an external investor through a minority stake sale. People familiar with the process said the company has appointed EY to run the transaction and is in conversations with multiple private equity funds and family offices. The proposed deal is expected to value the business in the range of ₹700 crore to ₹800 crore.
Founded in 2019, Trimex has built a portfolio of more than 50 outlets across India and Sri Lanka. According to filings accessed via Tracxn, the company reported revenue of ₹206 crore in FY24 and has recorded rapid improvement in operating performance over the past few years. The group employs close to 1,800 people across its markets.
Trimex holds development and expansion rights for Chili’s Grill & Bar in India, Sri Lanka and Bangladesh. The brand is owned globally by Dallas based Brinker International. The company also operates over 20 Cinnabon stores in India, serving desserts and beverages, and has a growing presence for French bakery chain Paul with more than seven locations nationwide.
Sources said the fresh capital will be used to fund a faster rollout of new restaurants and strengthen backend capabilities such as supply chain, training and store operations. Trimex has outlined plans to take its network to over 200 outlets by 2030, with a focus on metro markets as well as high potential tier two cities.
The move comes at a time when investor interest in food service, cafes and dessert chains remains strong. Recent transactions in the sector include consolidation among quick service restaurant operators and large private equity bets on bakery and dessert brands. Industry estimates suggest India’s food services market is on track to grow from ₹5.69 lakh crore in FY24 to ₹7.76 lakh crore by FY28, driven by younger consumers, rising eating out frequency and deeper reach of delivery platforms.
