Bodhi Tree System has decided to invest $180 million to acquire a controlling stake in Adyar Ananda Bhavan
CHENNAI: In one of the largest deals in the Indian restaurant sector, Bodhi Tree System (BTS) announced a $180 million investment for an undisclosed majority stake in leading south-based vegetarian restaurant chain Adyar Ananda Bhavan (A2B).
The investment by BTS, an investor-operator platform co-founded by media veterans James Murdoch and Uday Shankar , is aimed at expanding the footprint of the Chennai-based brand in domestic and international markets, according to a statement. The duo has a significant say in this partnership,” a source familiar with the developments said. “It is a joint venture between the two companies, wherein A2B co-founders and brothers K T Srinivasa Raja and K T Venkatesan will offer their guidance.
Thirupathi Raja returned to Tamil Nadu to launch Sri Ananda Bhavan Sweets in Washermenpet, north Chennai, in 1980.
A2B’s co-founders said the plan they had built together would make A2B a company fit for the public markets, allowing customers, employees and investors to share in its future. The deal is expected to strengthen A2B’s leadership and talent pool, build digital capabilities, modernise its kitchens, bring manufacturing up to global standards, expand its range of healthy and nutritious food, and grow its restaurant and packaged-food businesses across India and international markets. However, the name changed to Adyar Ananda Bhavan when the business reached the Adyar locality in the late 1980s. You Can Also Check: Gold Rate in Chennai | Silver Rate in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai | Chennai AQI | Weather in Chennai | Petrol Price in Chennai | Diesel Price in Chennai | CNG Price in Chennai | LPG Price in Chennai