LBF is planning to add 25-30 stores by investing Rs 70-80 crore to touch Rs 500 crore revenue in next three years.
Lite Bite Foods, promoted by Dabur's scion Amit Burman, expects to touch Rs 500 crore revenue in the next two-three years and is planning to add 25-30 stores annually.
The expansion will require investments of Rs 70-80 crore, which Burman, Chairman of Lite Bite Foods will invest through internal accumulation. The company is also planning to take initial public offering in two-three years.
Presently, LBF has over 100 stores under brands such as Punjab Grill, Asia Seven, Zambar, Fres Co, Pino’s and Street Foods of India.
Recently, the company partnered with Puranmal Foods, a Mumbai-based sweets company to sell sweets in Delhi-NCR.
“In the last couple of years, we have realised that there exists a big vacuum in the Indian sweets and savories categories within the high-end B2C, B2B as well as QSR segment. With a proven legacy and an impeccable track record, Puranmal was a natural choice. They already have a significant presence in Mumbai and had always shown keen interest in venturing into the capital city. And we at LBF, always looked to introduce new verticals and it made perfect sense for us to partner with Puranmal on Signature," says Amit Burman to Restaurant India.