Restaurant Franchise Opportunities

Investment Dec, 15 2014

Innovative Foods to raise Rs 50-60 crore funding

Innovative Foods which is owned by India Equity Partners (IEP) may also look for additional equity or raise the funding through another investor through a share sale, said a top official.

By Franchise India Bureau
Innovative Foods to raise Rs 50-60 crore funding

Innovative Foods Ltd (IFL), which owns the Sumeru brand is planning to raise Rs 50-60 crore, according to a PTI report.

The group which is known for making frozen fries, sausages, paranthas and prawns will use the fund for brand development; retail expansion and technology upgrade to rapidly grow the frozen foods arm.

Innovative Foods which is owned by India Equity Partners (IEP) may also look for additional equity or raise the funding through another investor through a share sale, said a top official.

The brand supplies the frozen food to restaurant chains like Domino's, Dunkin Donuts, Cafe Coffee Day, McDonald's and Subway.

"The business plan is with IEP and it is being considered whether to bring in additional equity or to raise the money through another investor through a share sale," Kannan Sitaram, CEO, IFL and Operating Partner at IEP told PTI.

Sumeru is the third largest frozen foods brand in the country after McCain and Godrej Tyson Foods' Yummiez.
 

Related: Tawak in talks with investors to raise funds

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.