AB InBev, the world’s largest beer company headquartered in Belgium, has expressed its intention to invest INR 400 crore in expanding its brewery operations in Karnataka, according to a statement from the state industries department.
During a meeting at the World Economic Forum in Davos, Ab InBev India & South Asia President Kartikeya Sharma and Budweiser APAC Chief Legal and Corporate Affairs Officer Craig Katerberg shared this information with Industries Minister MB Patil.
The company’s top executives conveyed to the minister that they consider Karnataka to be the ideal location for the expansion of their operations.
Bengaluru hosts the Indian headquarters of the brewing company, which features over 500 global and local beer brands. The company manages a state-of-the-art brewery in Mysuru and a global capability center in Whitefield, employing 5,000 professionals dedicated to digital capabilities, big data, artificial intelligence, and global supply chain excellence.
In India, the contribution of premium brands has increased to two-thirds of its total sales, compared to a third over three years ago. The brewery has also expanded its focus beyond beer, introducing energy drinks, whiskey, spiced rum, vodka, and, more recently, gin to its portfolio.
Haldiram’s, a renowned snacks manufacturer, is currently engaged in discussions to secure a controlling interest in Prataap Snacks, a listed rival valued at $350 million. This strategic move aims to enhance Haldiram’s footprint in the potato chip market, as disclosed by two individuals familiar with the situation.
The discussions are in their initial phases, and as of now, no valuation has been deliberated upon. However, there is a possibility that the valuation might be set at a premium compared to Prataap’s current stock price. According to undisclosed sources, Haldiram’s is targeting a majority stake of at least 51%, but the final percentage remains undetermined. The sources have opted to remain anonymous due to the confidential nature of the discussions.
Prataap is renowned for its Yellow Diamond brand of chips, challenging competitors such as Pepsi’s Lay’s brand and other snack-makers in a market where local, unorganized food sellers continue to dominate the fried chips segment.
Peak XV Partners, previously identified as Sequoia Capital India, currently holds approximately 47% ownership in Prataap Snacks. Sources indicate that Peak XV Partners is actively seeking a complete divestment of their stake in Prataap.
Haldiram’s CEO Krishan Kumar Chutani, along with Prataap CEO Amit Kumat and representatives from Peak XV, all declined to provide comments on the matter.
Entering the stock market in 2017, Prataap recorded annual revenues of approximately $200 million last year. The company boasts a daily sale of over 12 million packets of its affordable salty snacks, priced as low as INR 5.
On the other hand, Haldiram’s, a privately-owned business founded in 1937, has grown into a significant player in the packaged snacks sector, amassing a revenue of over $1 billion. With operations spanning 150 restaurants nationwide, the family-run enterprise aimed for a $10 billion valuation in discussions with conglomerate Tata Group and other strategic investors last year. However, these talks failed to materialize, primarily due to concerns related to the company’s valuation.
“A deal (with Prataap) will help Haldiram’s tap the potato chips segment. Consumers often prefer western flavored snacks over local ones,” said one of the sources.
Prataap operates 14 manufacturing plants spread across nine Indian states. While smaller, unorganized companies currently dominate India’s fried snacks sector, there has been a surge in demand for branded products in recent years. This trend is attributed to the increasing health consciousness among consumers and their higher disposable incomes, allowing them to invest in packaged goods.
On December 19, it was reported that Prataap’s founders and Peak XV were exploring the sale of a stake to investors and conglomerates. However, the buyers were not disclosed in the report.
Local snack manufacturers such as Prataap have faced challenges amid inflationary pressures and increasing competition in India, a market known for its price sensitivity. Despite these difficulties, the company’s stock price continues to linger close to its 2017 listing level.
In its November earnings report, Prataap projected that the snacks market in India was valued at $5.2 billion, with an annual growth rate of 14%.
Mahindra Holidays & Resorts India Ltd announced on Thursday its plan to invest INR 800 crore in Tamil Nadu for the development of three greenfield resorts over the next five to six years. In a statement, Mahindra Holidays & Resorts India Ltd (MHRIL) confirmed the signing of a Memorandum of Understanding (MoU) with the Tamil Nadu government for this substantial initiative.
The initiative is expected to create employment opportunities for more than 1,500 people, making a positive impact on the state’s overall economic landscape, as mentioned in the statement.
“With this significant investment, MHRIL will double its footprint in Tamil Nadu, with Club Mahindra already operating resorts in Ooty and Kodaikanal,” the company said.
This marks the second-largest investment by MHRIL, with the first being a INR 1,000 crore investment in Uttarakhand last year.
As per the statement, these investments are integral to the company’s expansion strategy aimed at doubling room inventory from 5,000 to 10,000 by 2030.
Further, MHRIL said as part of its commitment to sustainability and aim to achieve carbon neutrality by 2040, all the new resorts developed in Tamil Nadu will target to be “champions of net zero energy, water and waste, and in the process become role models for sustainable tourism in the state”.
The Food Safety and Standards Authority of India (FSSAI) has instructed all airlines and flight caterers to strictly adhere to food safety regulations and promptly take corrective actions to minimize incidents related to food safety.
During a recent meeting, FSSAI CEO G Kamala Vardhana Rao instructed airlines and flight caterers to adhere to labeling and display regulations. The aim is to provide passengers with information about the nature, origin, and manufacturing details of the food served during flights.
“The Food Safety and Standards Authority of India (FSSAI) convened a meeting with leading flight caterers and airlines on January 16, to evaluate and enhance the existing food safety protocols within the airline catering industry. The objective was to identify areas requiring improvement and to reinforce the commitment to providing passengers with safe and high-quality inflight meals,” an official statement released on Thursday stated.
During the meeting, FSSAI officials underscored the significance of promptly and effectively addressing consumer grievances. Airlines and caterers were urged to establish a robust mechanism for implementing corrective and preventive measures to reduce food safety-related incidents. The Authority highlighted the critical role that airlines and caterers play in ensuring the safety of passengers.
“Acknowledging a common concern regarding the lack of readily available information for passengers regarding inflight food, the CEO, FSSAI directed all flight caterers and airlines to strictly comply with sub-regulation 5(10) (f) and 8(4) of the Food Safety and Standards (Labelling and Display) Regulations, 2020. This directive aims to improve transparency by providing passengers with detailed information about the nature, origin and manufacturing-related details of the food served during flights,” the official statement added.
Stakeholders were additionally encouraged to prioritize menu labeling as a tool to educate passengers about the contents of the food served, enabling them to make informed choices.
“During the discussion, the need for specialized training programs for catering staff to ensure a comprehensive understanding of food safety and hygiene practices was given emphasis,” the FSSAI added.
Recently, a passenger raised concerns after finding worms in her sandwich during a flight, prompting FSSAI to issue a show-cause notice to the airline.
Starbucks India has joined forces with designer Manish Malhotra to introduce an exclusive collection of lifestyle drinkware, as announced in a press release on Thursday. The range includes stoneware ceramic mugs, stainless steel tumblers, and reusable cups, with design inspiration drawn from exquisite Kashmiri motifs.
The reusable cups are available at a price of INR 850, stoneware ceramic mugs are priced at INR 2,100, and stainless steel tumblers can be purchased for INR 2,900. Each product comes with a personalized note from Manish Malhotra, as mentioned in the release.
Commenting on the collaboration, Manish Malhotra said, “I am delighted to join forces with Starbucks India to introduce the limited-edition collection. Kashmir holds a special place in my heart, serving as both a personal connection and a cornerstone of my brand’s identity. In crafting a signature collection for my collaboration with Starbucks, I aimed to seamlessly integrate the beauty and craftsmanship of Kashmir into everyday moments.”
The products will be available in different colour palettes including charcoal black, regal golds, pristine whites, and subtle carmines.
“At Tata Starbucks, we have always believed in the power of design, art, and community in sharing elevated experiences for coffee lovers across India. As we continue to lead growth in India, we are thrilled to partner with Manish Malhotra. We hope this collaboration elevates our consumers’ daily cup of coffee with Malhotra’s inimitable design language,” said Sushant Dash, chief executive officer, Tata Starbucks.
In a groundbreaking collaboration, Third Wave Coffee and Ironhill India, both trailblazers in their domains, have united to deliver a one-of-a-kind and inventive experience for aficionados of coffee and beer. This extraordinary partnership is set to revolutionize the beverage landscape, presenting patrons with an unmatched blend of premium coffee and artisanal beer. The impeccably balanced stout boasts aromatic and palate-pleasing notes of strong coffee, complemented by subtle undertones of dark chocolate and vanilla. Enhanced with nitro infusion, this velvety ale features a creamy head and concludes with a semi-dry finish.
The collaboration between both brands stands as a testament to a shared celebration of values, a mutual commitment to quality, and a shared passion for delivering exceptional experiences. Currently debuting at Ironhill Bangalore and extending its reach to Hyderabad in the near future, this partnership is born from a collective understanding that the diverse palate of beer enthusiasts deserves a unique amalgamation. It seamlessly blends the rich, robust flavors of premium coffee with the masterful craftsmanship of artisanal beer, promising a fusion that goes beyond expectations.
Teja Chekuri, Co-Founder and Managing Partner, Ironhill India expressed his enthusiasm about the collaboration. He said, “At Ironhill, we have always strived to push boundaries and create unique offerings for our customers. Teaming up with Third Wave allows us to delve into uncharted territories, introducing a blend of flavors that hasn’t been explored before. We are confident that this collaboration will resonate with our patrons who appreciate quality and innovation.”
Anirudh Sharma, Co-founder, Third Wave Coffee said, “Our collaboration with Ironhill represents a convergence of passion and craftsmanship. We set out to create a beverage that transcends boundaries, offering patrons an unparalleled sensory journey. The result is a stout that marries the boldness of quality coffee with the artistry of craft beer, delivering a truly exceptional drinking experience.”
Ironhill and Third Wave are united by a shared dedication to acquiring the highest-quality ingredients, a commitment to meticulous craftsmanship, and a fervor for creating unforgettable experiences. The outcome is a menu featuring a thoughtfully curated array of coffee-infused beers, each meticulously crafted to provide a delightful and distinctive taste sensation.
Si Nonna’s, India’s first Neapolitan sourdough pizzeria, is on an expansion spree, marking its presence with the launch of two new outlets in Mumbai. One is nestled in the bustling Phoenix Market City, Kurla, while the other finds its home at Inorbit Mall, Vashi. These new additions join the existing Si Nonna’s locations in Mumbai (Kamla Mills, Jio World, Fun Republic) and the one store in Pune on FC Road, solidifying its footprint in these vibrant culinary landscapes.
Their commitment to Neapolitan culinary excellence shines through in each meticulously crafted sourdough pizza, transporting patrons to the vibrant piazzas of Naples. With the recent launch of new outlets, this dedication continues to captivate palates. Beyond the signature Sourdough Pizzas, patrons can indulge in an array of offerings, including Salads, Starters, homemade dips, desserts, and beverages, ensuring a diverse and satisfying dining experience.
Speaking on the launch of the outlets, Ayush Jatia, Founder of Si Nonna’s, said, “We’re thrilled to bring the essence of Si Nonna’s to Kurla and Vashi and we can’t wait to showcase our passion for authentic Italian food with their communities. Come gather at our tables, let the warmth of our hospitality envelope you, and prepare to be swept away by the magic of Si Nonna’s.”
In an analyst call, Sunil D’Souza, the Managing Director and CEO of Tata Consumer Products Ltd, addressed concerns and reassured stakeholders that there are no plans to rebrand Ching’s Secret, Smith & Jones, and Organic India. According to a report by The Financial Express (FE), D’Souza responded to investor queries regarding the acquisitions of Capital Foods and Organic India, emphasizing the company’s commitment to upholding the continuity of the acquired brands.
Tata Consumer is set to acquire a controlling stake in Organic India from Fabindia at a valuation of INR 1,800 crore and a 75% stake in Capital Foods from Invus Group and General Atlantic at INR 5,100 crore. These strategic acquisitions are intended to fortify Tata Consumer’s portfolio and enhance its competitive position in the Indian market.
Organic India specializes in teas, infusions, herbal supplements, and personal care items, whereas Capital Foods is recognized for its offerings of instant noodles, soups, and condiments under the brands Ching’s Secret and Smith & Jones. Tata Consumer intends to capitalize on the global reach of both brands, aligning with its strategic goal to evolve into a prominent FMCG company.
D’Souza clarified that the inclusion of the Tata name in the acquired brands would undergo a meticulous evaluation process, highlighting the successful integration of the Tata name with the Soulfull brand, which was acquired in 2021. Tata Consumer is actively pursuing its transformation into a major fast-moving consumer goods (FMCG) company, with a dedicated emphasis on both organic and inorganic growth initiatives.
In terms of financing for the recent acquisitions, Tata Consumer is considering various alternatives. The company is reported to have INR 3,000 crore in cash, and the remaining balance of INR 4,000 crore may be secured through a combination of short-term debt and a proposed rights issue amounting to INR 3,500 crore. The final approval for the rights issue is anticipated during a Tata board meeting scheduled for January 19.
The consolidated turnover for the company in the financial year 2022-23 amounted to INR 13,783 crore. D’Souza articulated Tata Consumer’s ambitions to play a substantial role in the food and beverages sector, highlighting a strategic focus on exploring value-accretive inorganic opportunities that grant access to rapidly expanding categories.
D’Souza conveyed that the Capital Foods transaction is set to conclude within the next two weeks, whereas the Organic India acquisition is expected to be finalized in approximately 45-60 days. The integration strategy entails strategically positioning both Capital Foods and Organic India within Tata Consumer’s current platforms to align with their specific product portfolios. This integration plan encompasses a concentration on breakfast and mini-meals for Capital Foods, the pantry business for Smith & Jones sauces and pastes, and a focus on premium teas for Organic India’s tea and infusion offerings.
Rahul Aggarwal and Hariher B, Co-Founders, BuyEazzy
BuyEazzy, the e-commerce platform specializing in beauty products with a focus on Bharat, has successfully raised $4.25 million in a Series A funding round. Leading the investment is Info Edge Ventures, with continued support from existing investors such as Incubate Fund Asia and M Venture Partners.
The funding will be allocated to support the company’s expansion, team building, and product enhancement efforts, as stated by the company.
Furthermore, the Mysore-based company announced that the funds raised will be employed to broaden its footprint to over 40 cities in the next 15 months. This expansion plan includes onboarding more than two million offline users and maintaining its disruptive impact on the traditional supply chain in Bharat.
Established in May 2021 by Rahul Aggarwal and Hariher B, the online platform addresses the unmet beauty and wellness requirements of consumers in tier 2+ cities, where access to a diverse range of beauty products is restricted.
The cofounders shared, “We will focus on southern states in the near future and eventually move to other parts of the country.” Presently, the platform is actively serving customers in ten tier 2 and 3 cities located in Karnataka and Tamil Nadu.
Sharing his views Rahul Aggarwal, co-founder and CEO of BuyEazzy, said, “The next wave of growth in India will be driven by users from a highly dispersed continuum of large and small towns in Bharat. We have an ambition to take e-commerce to the most remote corners of India and empower these users to realize the true potential of technology and act as a catalyst in driving the consumption-led growth story of India.”
“By disrupting the supply chain, we are building a unique win-win ecosystem, where manufacturers/ brands get access to remote markets and online distribution, neighbourhood stores can grow their current income by 40-50% and offline users get access to a wider assortment, best prices and convenience of online shopping,” said Hariher B, co-founder and COO of the company.
“BuyEazzy with their unique model and category focus has been able to take e-commerce into deeper India, we are proud to consistently support them since their early years as they continue to scale sustainably coupled with strong execution,” said Rajeev Ranka, Partner at Incubate Fund Asia.
The company additionally stated that e-commerce penetration in the beauty sector in Bharat is below 5%, largely attributed to a trust deficit between online platforms and offline users. This is exacerbated by extended delivery times, as well as concerns regarding the authenticity and quality of products.
When asked about the future plans, the cofounders said, “We will continue to focus on the beauty segment in the near term. We will tap into other adjacent categories later.”
“We are targeting to grow by 4X by the end of this year and are maintaining healthy unit economics (already CM3 positive). We expect to break even at overall EBITDA level while ensuring high growth,” shared BuyEazzy regarding its comprehensive growth outlook.
Speaking about the products on its website, the company said, “We source products locally from authorized distributors of the beauty brands to ensure the authenticity of products. We don’t have our own products, we sell mainstream PAN India and regional brands.”
Days ahead of the consecration of the Ram Temple, Oyo, a budget hospitality chain, announced on Wednesday the inauguration of 65 hotels and homestays in Ayodhya to cater to pilgrims.
Brijesh Pathak, deputy chief minister of Uttar Pradesh; B L Santosh, national general secretary of the BJP; Jaiveer Singh, cabinet minister for tourism and culture in Uttar Pradesh; and Surya Pratap Sahi, cabinet minister for agriculture and agricultural education, jointly inaugurated 51 Oyo homestays and 14 hotels in the city.
The company stated that this initiative is in line with its dedication to offering ‘comfortable’ and ‘affordable’ accommodations to travelers in Ayodhya. According to the company, guests can find rooms with prices starting at INR 1000.
Oyo said it has seen a 350% increase in searches for Ayodhya on its platform over the past year.
The 65 properties in Ayodhya have been added to facilitate the expected surge in tourism after the consecration ceremony of the Ram Temple on January 22.
To ensure smooth and timely operations, the company has partnered with the Ayodhya Development Authority and the Uttar Pradesh State Tourism Development Corporation.
“We are delighted to welcome Oyo’s expansion in Ayodhya. These newly inaugurated properties will increase our accommodation capacity and ensure a smooth experience for the pilgrims,” said Brijesh Pathak, deputy chief minister, Uttar Pradesh.
“Oyo’s focus on local homestays aligns with our mission to empower Ayodhya’s residents and showcase the city’s cultural heritage through authentic experiences. We look forward to a long-term partnership with Oyo in making Ayodhya shine as a beacon of spiritual tourism,” he added.
Deepa Malik, independent director, Oyo, said it is a privilege to play a role in enhancing Ayodhya’s hospitality infrastructure and providing comfortable and accessible stays for devotees and tourists from all over the world.
“We have also identified 15 Oyo homestays in Ayodhya with ramps to make it convenient for divyang devotees coming to Ayodhya,” she added.
Expressing his views, Jaiveer Singh, the cabinet minister for tourism and culture in Uttar Pradesh, stated that Oyo’s dedication to affordability and quality perfectly aligns with the state’s vision of making Ayodhya accessible and comfortable for travelers from all walks of life.
“We are confident that this collaboration will play a crucial role in boosting tourism and creating new economic opportunities for the region,” he added.
Oyo said it is gearing up to launch 400 properties in popular destinations like Ayodhya, Puri, Shirdi, Varanasi, Amritsar, Tirupati, Haridwar, Katra-Vaishno Devi, and the Char Dham route by the end of this year.
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