In a noteworthy development, Vikram Bakshi, the former Managing Director of McDonald’s North and East, has made a strategic move by acquiring an equity stake in Aku’s, a promising startup focusing on premium foods. Aku’s has gained significant backing from The Brrgrr Co., a renowned company specializing in DIY western-cuisine foods. This partnership highlights Bakshi’s continued interest in the food industry and his recognition of Aku’s potential in the market.
Bakshi, having previously found success with McDonald’s, is making a remarkable comeback in the burger business for the second time.
Confirming the development, Bakshi said the deal is in the form of equity investment. Declining to disclose other details of the deal, he said the brand will be scaled up “to a much larger audience than it already is”.
According to information available on its website, The Brrgrr Co, founded in 2020 by Delhi-based Chef Akriti Malhotra, recently announced on one of its social media pages that it has secured funding from Bakshi. The company specializes in offering hand-crafted fresh buns, patties, and sauces.
“The time is ripe to upgrade the burger culture in India. Their positioning connects with the present demand of millennials and Gen Z,” Bakshi said.
Within the culinary realm, gourmet western-style cuisine occupies a unique and expanding space. Over the past year, specialized brands such as AvoBeet and Feta from Nino Burgers, along with Louis Burger and Speak Burgers, have successfully scaled up their operations, catering to the growing demand in this segment.
However, the landscape of mass western-style fast foods experienced a notable shift in the March quarter. Major quick-service restaurant chains witnessed either stagnant or declining growth as consumers gravitated towards lower-priced options. This resulted in the emergence of multiple boutique brands like Leo’s, Tossin, GoPizza, and MojoPizza, which quickly gained traction and began encroaching on the market share of larger companies.
In May 2019, McDonald’s made an announcement regarding the resolution of its legal dispute with Bakshi. The US-based chain successfully reached an out-of-court settlement and decided to acquire Bakshi’s stake in Connaught Plaza Restaurants Pvt Ltd (CPRL), the company responsible for operating McDonald’s restaurants in the northern and eastern regions of India. This settlement marked the end of a prolonged legal battle between the two parties.
Prior to that, Bakshi had been at the helm of McDonald’s operations in the north and east regions for almost two decades.