Singapore’s sovereign fund Temasek is seeking approval from the Competition Commission of India (CCI) for a substantial investment in Rebel Foods, the parent company of Faasos and Behrouz Biryani.
On͏͏ August͏͏ 26,͏͏ Snackfax͏͏ had͏͏ reported͏͏ that͏͏ Temasek͏͏ is͏͏ in͏͏ advanced͏͏ talks͏͏ to͏͏ lead͏͏ a͏͏ USD͏͏ 100-150͏͏ million͏͏ investment͏͏ in͏͏ Rebel͏͏ Foods.
Continue͏͏ Exploring:͏͏ Temasek in͏͏ advanced͏͏ talks͏͏ for͏͏ $100-150͏͏ Mn͏͏ investment͏͏ in͏͏ Rebel Foods
Primary͏͏ and͏͏ secondary͏͏ share͏͏ sales͏͏ planned:
The͏͏ deal͏͏ will͏͏ consist͏͏ of͏͏ both͏͏ primary͏͏ and͏͏ secondary͏͏ share͏͏ sales,͏͏ with͏͏ a͏͏ valuation͏͏ that͏͏ remains͏͏ largely͏͏ unchanged͏͏ from͏͏ its͏͏ previous͏͏ round͏͏ nearly͏͏ three͏͏ years͏͏ ago.
The͏͏ secondary͏͏ sale͏͏ is͏͏ anticipated͏͏ to͏͏ be͏͏ at͏͏ a͏͏ reduced͏͏ valuation͏͏ of͏͏ around͏͏ USD͏͏ 700͏͏ million.͏͏ Coatue,͏͏ a͏͏ US-based͏͏ firm,͏͏ and͏͏ the͏͏ domestic͏͏ fund͏͏ Lightbox͏͏ are͏͏ likely͏͏ to͏͏ partially͏͏ sell͏͏ their͏͏ stakes͏͏ in͏͏ this͏͏ funding͏͏ round.
Continue͏͏ Exploring:͏͏ Temasek to͏͏ acquire͏͏ 25%͏͏ stake͏͏ in͏͏ IPO-bound͏͏ Rebel Foods
In͏͏ October͏͏ 2021,͏͏ the͏͏ Mumbai-based͏͏ firm͏͏ became͏͏ a͏͏ unicorn͏͏ after͏͏ a͏͏ USD͏͏ 175͏͏ million͏͏ funding͏͏ round͏͏ led͏͏ by͏͏ the͏͏ Qatar͏͏ Investment͏͏ Authority͏͏ (QIA),͏͏ which͏͏ valued͏͏ the͏͏ company͏͏ at͏͏ USD͏͏ 1.4͏͏ billion.
Cloud͏͏ kitchen͏͏ brands͏͏ are͏͏ experiencing͏͏ consistent͏͏ growth͏͏ and͏͏ expanding͏͏ their͏͏ offline͏͏ presence͏͏ through͏͏ company-owned͏͏ or͏͏ franchise͏͏ stores.͏͏ Many͏͏ new-age,͏͏ online-first͏͏ brands͏͏ are͏͏ moving͏͏ into͏͏ physical͏͏ locations͏͏ to͏͏ attract͏͏ new͏͏ users,͏͏ supported͏͏ by͏͏ venture͏͏ funds͏͏ that͏͏ are͏͏ investing͏͏ in͏͏ consumer͏͏ brands͏͏ with͏͏ a͏͏ retail͏͏ presence͏͏ in͏͏ the͏͏ food͏͏ and͏͏ beverage͏͏ sector.
Growth͏͏ and͏͏ Global͏͏ Reach͏͏ of͏͏ Rebel Foods:
Established͏͏ in͏͏ 2011͏͏ by͏͏ Jaydeep͏͏ Barman͏͏ and͏͏ Kallol͏͏ Banerjee,͏͏ the͏͏ firm͏͏ boasts͏͏ 450͏͏ kitchens͏͏ in͏͏ 70͏͏ cities,͏͏ with͏͏ its͏͏ brands͏͏ accessible͏͏ in͏͏ around͏͏ 10͏͏ countries,͏͏ including͏͏ the͏͏ United͏͏ Arab͏͏ Emirates͏͏ (UAE),͏͏ Saudi͏͏ Arabia,͏͏ and͏͏ the͏͏ UK.
According͏͏ to͏͏ the͏͏ unicorn,͏͏ it͏͏ plans͏͏ to͏͏ go͏͏ public͏͏ within͏͏ the͏͏ next͏͏ few͏͏ years.
The͏͏ company͏͏ also͏͏ owns͏͏ brands͏͏ including͏͏ Oven͏͏ Story͏͏ Pizza,͏͏ Mandarin͏͏ Oak,͏͏ Firangi͏͏ Bake,͏͏ and͏͏ Sweet͏͏ Truth.͏͏ Its͏͏ ordering͏͏ platform,͏͏ EatSure,͏͏ manages͏͏ offline͏͏ outlets͏͏ and͏͏ has͏͏ plans͏͏ for͏͏ additional͏͏ openings.
Rapid͏͏ Growth͏͏ of͏͏ the͏͏ Cloud Kitchen Sector͏͏ in͏͏ India:
According͏͏ to͏͏ a͏͏ recent͏͏ report͏͏ by͏͏ the͏͏ National͏͏ Restaurant͏͏ Association͏͏ of͏͏ India͏͏ (NRAI),͏͏ the͏͏ cloud͏͏ kitchen͏͏ sector͏͏ grew͏͏ by͏͏ 30-40%͏͏ between͏͏ 2019͏͏ and͏͏ 2024͏͏ and͏͏ is͏͏ projected͏͏ to͏͏ grow͏͏ at͏͏ a͏͏ rate͏͏ of͏͏ 35.2%͏͏ over͏͏ the͏͏ next͏͏ four͏͏ years.
