L Catterton to invest in restaurant chain Nandhana Foods
The funding by global consumer focused investment firm L Catterton is expected to support Nandhana Foods' next phase of growth.
Global consumer-focused investment firm L Catterton has entered into a definitive agreement to invest in Nandhana Foods, a leading restaurant group specialising in South Indian cuisine. The value of the investment was not disclosed.
According to a statement, the investment will support Nandhana Foods’ next phase of growth and enable the group to achieve greater scale by leveraging L Catterton’s industry expertise and operating capabilities.
L Catterton Partner Vikram Kumaraswamy said, “Nandhana Foods’ founding family has built a distinctive and scalable business with a strong consumer proposition and attractive unit economics. It has expanded the business in a disciplined manner and ensured that its restaurants remain anchored in high quality and consistency.”
He also said, “We believe there is significant headroom for additional growth by further deepening and broadening its presence in South India and penetrating other markets. There is a clear path for prudently ramping up expansion.”
Founded in 2004, Nandhana Foods is a restaurant group that specialises in Andhra and Karnataka cuisine. It operates two brands, Nandhana Palace and RNR, and has 25 branches across Bengaluru and Chennai.
Nandhana Foods Founder and Managing Director R Ravichandar said, “We are pleased to partner with L Catterton, which has a track record of creating value for its portfolio companies across the world. The firm has a profound grasp of our organisational DNA and an intricate understanding of the restaurant industry.”
The statement said L Catterton has significant experience in building restaurant brands across the world.
The firm has invested in around 30 restaurant businesses till date. Its current and past portfolio companies include Dishoom, P.F. Chang’s, Velvet Taco, Baja Fresh, Cheddar’s Scratch Kitchen, Cigierre, HUGE, Impresario, and Mendocino Farms.
Founded in 1989, L Catterton manages around $40 billion of equity capital across multi-product platforms dedicated to private equity, credit, and real estate. It has made over 300 investments in consumer brands across the world.
Edited by Swetha Kannan