L Catterton Asia plans to invest around Rs 600 crore in Impresario Entertainment & Hospitality

Singapore-based private equity firm, L Catterton Asia is looking to buy a controlling stake in Indian restaurant chain operator, Impresario Entertainment and Hospitality Pvt. Ltd,

The valuation being considered for the company is around Rs 600 crore and the fund is believed to be currently doing a due diligence of the businesses.

A deal will include a primary infusion of capital to grow the company’s existing brands like Social and Smoke House Deli, as well as a secondary share sale that may see some existing investors reducing their stake or exiting entirely, sources said.

Though exact quantum of stake that will change hands is not yet final, it is likely to be as high as 60-75%.

In FY17, Impresario posted Rs 225-275 crore of revenue and Rs 25 crore of operating profit.