Jubilant Foodworks to acquire 10.76 pc stake in Barbeque-Nation Hospitality

In a statement, Jubilant Foodworks Ltd (JFL) , which operates fastfood chains Domino's Pizza and Dunkin' Donuts in India has stated that it will invest Rs 92 crore in Barbeque-Nation Hospitality Ltd (BNHL) for a 10.76 per cent equity stake.

"The company has entered into a share subscription agreement to acquire equity shares and a restated shareholders' agreement to regulate the rights and obligations of BNHL's key shareholders," Jubilant Foodworks said in a regulatory filing.

BNHL operates Barbeque Nation (BBQ), an Indian cuisine casual dining Brand, which introduced the concept of live grilling of kebabs to the Indian market.It owns and operates 138 Barbeque Nation restaurants across 73 cities in India and seven international Barbeque Nation restaurants (as of November 30, 2019). It also has a presence in the Italian cuisine segment under the brand Toscano.

It is said that the proposed investment will create value for the company's shareholders.