Chennai (Tamil Nadu) [India], November 13 (ANI): Bodhi Tree Systems, a platform backed by James Murdoch's Lupa Systems and Uday Shankar, will invest USD 180 million to acquire a majority stake in South Indian food chain Adyar Ananda Bhavan (A2B), as the company looks to expand its presence across India and international markets.
The partnership will support A2B's next phase of growth and help it strengthen its position in the food and restaurant industry.
A2B operates in the South Indian casual dining segment and is also known for its packaged sweets and savouries.
The company has a strong presence in Tamil Nadu and Karnataka, with 160 outlets in India and more than 30 outlets internationally. It employs over 15,000 people.
The food chain has an international presence in Singapore, the United States, Australia, Malaysia and the United Kingdom.
In a statement issued, James Murdoch and Uday Shankar said, “A2B has earned the trust of millions of families through its consistent and reliable quality.”
They added, “We are grateful to the co-founders, K.T. Srinivasa Raja and K.T. Venkatesan, for this opportunity to partner with them to build a differentiated, professionally managed Indian food company, one that sets new standards for the sector. While A2B is a formidable brand in India, we are equally impressed by the scale and reach of its operations in Singapore, the United States, Australia, Malaysia, and the UK. We look forward to working with the team to take its authentic cuisine to a far broader global audience.”
Uday Shankar will serve as the chairperson of A2B's new board.
Commenting on the partnership, A2B co-founder K.T. Srinivasa Raja said, “What began as a sweet shop started by my brother and me 50 years ago is now part of daily life for millions of e families, and we are proud of every one of our people who made that possible.”
He added, “We are excited to begin this next chapter with Bodhi Tree. The plan we have built together will make A2B a company fit for the public markets, so that our customers, employees and investors can share in its future.”
Bodhi Tree Systems focuses on investments across media, consumer technology, education and healthcare in emerging markets, including India and Southeast Asia.
Prior to the proposed investment in Adyar Ananda Bhavan, Bodhi Tree Systems had major investments in India's media and education sectors, including Rs 13,500 crore in Viacom18 and USD 600 million in ALLEN Career Institute.
The current investment marks a new phase for A2B as it looks to build on its established presence in the Indian food market and expand its reach. (ANI)
Bodhi Tree acquires majority stake in South Indian food chain Adyar Ananda Bhavan for $180 mn
