Hotline: 1800 102 2007
X
Search Business Opportunities
Nov, 04 2015

Barista Coffee to be sold by Amtek Group

Recently, Dham had announced the group's decision to offload non-core assets and exit non-auto businesses, after the firm defaulted on repayment of Rs 800 crore.

Barely a year after it acquired Barista Coffee, debt-laden auto component maker Amtek Group is looking to sell off the loss making Italian coffee chain, reported ET.

Amtek may bring in consultancy firm Grant Thornton to look for potential buyers for Barista, one of the officials quoted above said, adding though that Grant Thornton hasn't been given the signed mandate yet.

"The deal could also be structured in a way that the Arvind Dham-promoted Amtek Auto could liquidate about a third in Carnation Hospitality, which manages Amtek's food business," another official said.

Recently, Dham had announced the group's decision to offload non-core assets and exit non-auto businesses, after the firm defaulted on repayment of Rs 800 crore.

Amtek is the fourth owner of Barista Coffee, the oldest among India's private coffee chains, and the potential sale points to not only Amtek's cash crunch problems but also the struggle in the country's coffee chain industry where most players are struggling to make profits.

Most of Barista Coffee's 170-plus stores are loss making, though in terms of store count, Barista continues to be the country's second-largest cafe chain after Cafe Coffee Day.

Other big players in India's estimated Rs 1,400-crore cafe business with over 3,100 branded outlets include Starbucks and Costa Coffee. Carnation Hospitality, a wholly owned subsidiary of Amtek Group's listed firm Rollatainers, had bought out Barista coffee for Rs 100 crore from Italian coffee firm Lavazza Spa.

Comment
Related opportunities
  • Womens Wear
    About: Founded in 2014, Varanga is a progressively - growing fashion..
    Locations looking for expansion Delhi
    Establishment year 2014
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Laundry & Dry Cleaning
    About Us: Established in 2012, Western Dhobi Grandeur is an innovative..
    Locations looking for expansion Maharashtra
    Establishment year 2012
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater PUNE Maharashtra
  • Designer jewellery
    About Us: It all started when PC Jeweller first opened its..
    Locations looking for expansion New Delhi
    Establishment year 2005
    Franchising Launch Date 2016
    Investment size Rs. 5 Cr. above
    Space required 1200
    Franchise Outlets 20-50
    Franchise Type Unit, Multiunit
    Headquater Central Delhi New Delhi
  • Casual dine Restaurants
    About Us: Ginger Ganesha, a name synonymous with mouth-watering dosas in..
    Locations looking for expansion Delhi
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New Delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities