To sell India food business.
Dodsal Group, a Dubai based firm which owns Pizza Hut franchisee across South and West India will sell its food and fine dining company in India. The company has appointed boutique investment bank Euromax Capital to scout for buyers, stated a media report.
Kilachand family, the owners of Dodsal Group which owns approximately 86 restaurants has planned to exit the food business and focus on its engineering and construction business in the Middle East. The bankers have begun preliminary discussions with some of the buyout private equity funds. Pizza Hut, KFC and Tacobel are three flagship brands of the US-based Yum! International.
The Rajen Dodsal-promoted group owns the franchisee rights for South and West India and runs six KFC quick service restaurants in Mumbai and Bangalore, while the Ravi Jaipuria-owned Devyani International operates the Pizza Hut chain in the North and East India.
"The company is in talks with buyout funds and some strategic players to sell the company," a person familiar with the news commented.