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Sep, 21 2013

New Silk Route Acquires Moshe’s

New Silk Route set aside USD 100 mln to invest in Indian F&B firms.

Private equity firm Silk Route has acquired Mumbai-based Moshe’s Fine Foods Pvt. Ltd, which runs a chain of restaurants and cafés specialising in Mediterranean cuisine under the brand name ‘Moshe’s’.

New Silk Route has set aside USD 100 million to invest in Indian F&B firms. The firm is now looking to buy one firm each in the Indian-Chinese and North Indian cuisine segment.

Mr. Jacob Kurian, Partner, NSR Advisors said “In the F&B segment, there are no large significant acquisition targets available and those available were seeking fancy valuations. Therefore, we decided that we should go out and acquire small companies; put them together under one platform. The brands will be stand-alone and there will be no attempts to dilute any brand. The synergies will be at the back-end.”

Moshe Shek, Founder, Moshe’s said “We thought it was high time we got a partner and took the company to the next level. I created the outlets on my own. I am a chef and that is my expertise. To build a larger corporate structure, we need expertise of others as well as funds to expand.”

Moshe’s will now expand into Pune, Bengaluru and New Delhi over the next two years. “We don’t see Moshe’s to be as large or as numerous as Adigas, but we hope that Moshe’s will be a better margin, more exclusive business, we expect Moshe’s to be a Rs 300-crore business in three-five years,” , added Mr. Kurian.

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