Restaurant Franchise Opportunities

Acquisition Nov, 12 2014

Atulya Mittal to buy Pizza Corner

Pizza Corner operates 70 outlets across the four southern states and around 75 percent of Pizza Corner outlets are company owned, while the remaining were being operated under the franchise route.

By Franchise India Bureau
Atulya Mittal to buy Pizza Corner

Atulya Mittal, the Ispat industries scion is planning to buy Pizza Corner, India’s first pizza chain, stated a report in ET.

Atulya Mittal also runs Papa John's Pizza in India which has 20 outlets across the country.

Pizza Corner, owned by Bangkok-based billionaire Fred Mouawad, entered India in 1996.

The Pizza chain is part of Mouawad's Global Franchise Architects (GFA), which owns and operates other fast food brands in the country such as Donut Baker, Cream and Fudge, and Coffee World.

The discussions between Atulya and GFA were at an advanced stage, said sources close to the agreement. The deal may be structured as a merger of the Pizza Corner operations with Papa John's through a combination of cash payout and share swap, leaving Mouawad with an attractive monetizing plan.

Pizza Corner operates 70 outlets across the four southern states and around 75 percent of Pizza Corner outlets are company owned, while the remaining were being operated under the franchise route.

The Mittal family last year acquired Om Pizzas and Eats, a master franchisor of Papa John's in India, from TVS Capital, which continues to hold a minority stake. 

Related: Zomato acquires cloud-based restaurant POS product MaplePOS

Click Here to add Comment
Please add your Comment
Rating
NEWSLETTER SIGNUP

Submit your email address to receive the latest updates on news & host of opportunities.

Most

Video

Magazines & Books

Read the latest franchising magazines and books to get comprehensive and up-to-date information on leading franchise systems, trends and more.

BOS
Recommended For You
Newsletter Signup
Submit your email address to receive the latest updates on news & host of opportunities.
Restaurant India

Copyright © 2009 - 2016 Franchise India Holdings Ltd.

The information contained herein is of generic nature only, and Franchise India is not, by means of this website or any part thereof, rendering professional advice or services. Before making any decision or taking any action that might affect your finances or business, you should consult a qualified professional advisor. Your use of this website or any of its pages or links given, is at your own risk and you assume full responsibility and risk of loss resulting from your usage. With respect to use of the website, kindly visit www.franchiseindia.com/terms.