Industry Archives: Food Service


Premium branded natural and gourmet food retailer in NYC

The Company is a leading upscale, full service specialty and natural food retailer with three retail locations in New York City and an expansion plan for an additional four stores in the next three years. Since first opening its doors in 1994, the Company has established a reputation for top quality produce, extensive product selection and unsurpassed customer service. Each location is a culinary mecca for savvy shoppers who demand the finest products and ingredients at the best prices.

The Company is seeking mezzanine and/or equity to fund growth and store expansion. The Company is holding limited discussions with institutional and family office investors for financing in mid 2015.

The Company has built a well known brand based on premium food quality, store environment and customer service. Our stores recreate the look and feel of a traditional, European, outdoor market, with an atmosphere of warmth and sophistication. While the interior space encourages exploration and relaxed shopping, the aisles and shelves are abundantly stocked from floor to ceiling with over 10,000 specialty food products sourced from every corner of the globe.

The Company’s are destinations for unique, organic, natural, and specialty products and each has become a neighborhood market place for celebrities and local chefs. The Company targets upper middle class neighborhoods in metropolitan areas. Store sizes ranges from 10,000 to 15,000 square feet.

The Company utilizes a smaller box store format, averaging under 15,000 square feet with some stores in the 20,000 foot range. Each store carries approximately 9,000 to 10,000 SKU’s, while many conventional supermarkets are approximately 40,000 to 60,000 square feet and carry an average of 45,000 SKUs. Using this smaller-box format, The Company is able to focus on higher-margin food categories. The Company also believes this format facilitates a higher level of customer service that enables an enhanced overall customer shopping experience.

The Company is forecasting growth from existing stores and new store growth in 2018 to $61 MM in revenues, approximately $5.4 MM in adjusted EBITDA and approximately $6.6 MM in “4-Wall EBITDA” (Store level EBITDA before central office overhead).

Deal Contact:
India Brook Partners
Jeff Tarplin
[email protected]
+1 908 219 4408

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TinyOwl Lands $16M To Expand Its Food Delivery Service To 50 Cities In India

India-based food ordering service TinyOwl has raised a $16 million Series B round to fund an aggressive plan to reach 50 cities in the country, TechCrunch has learned. TinyOwl co-founder and CEO Harshvardhan Mandad disclosed details in an email to staff earlier this month. The company initially denied the round, but has since confirmed it to TechCrunch. The capital was provided by Matrix Partners and existing investors Sequoia Capital and Nexus Venture Partners. TinyOwl raised $1 million in August 2014. It added a $3 million Series A round in December.

It’s been public knowledge that TinyOwl was raising fresh funding. Last month, Mandad told VC Circle that he was in discussions over a $5 million raise. Perhaps spurred by increased competition, TinyOwl has taken on a lot more capital and raised its targets — VC Circle reported plans to expand to four new cities in the next six months — accordingly.

TinyOwl’s service allows customers to order take-out via its iOS and Android apps. It launched in March 2014 and is currently available in Mumbai only, however Mandad explained in the email that the aim is to take the service to over 50 cities in India before the end of the year. Another target, he wrote, is to pass 50,000 daily orders per day before the end of the year — that would be a big jump on its current daily order rate of 3,000-5,000.

The young startup has witnessed the competition intensify lately. Rocket Internet-backed Food Panda entered India via the acquisition of TastyKhana last year, and this month it snapped domestic rival Just East as part of a glut of global acquisitions. In addition, food discovery service Zomato — which has global reach and raised over $110 million from investors — will launch a food order service in India next month, and has allocated $50 million to build the business.
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Inexpensive Pub-Style Restaurant Chain in Ireland Seeks Funding

This young but experienced company is based in Ireland, and currently focusing on a new and exciting project. Recently, the business acquired a national franchise license for an inexpensive pub-style restaurant format that is already successfully operating in seven other countries and constantly expanding. This particular chain is known for its low-priced drink and snack menus and exceptionally high customer turnover.

The business plan includes first opening of several locations in Ireland, which has recently become the most attractive market for investors in Europe. The estimated costs of our project are €500,000. We will be more than happy to introduce you to our project personally or by some other means.

Forty Nine Premium Spirits Ltd
Ivan Orec
[email protected]
+35 385 115 1846

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Monsieur, The Drink Robot, Raises $2 Million

A robotic bartender named Monsieur and his human partners have raised $2 million in seed investment from BIP Capital with Base Ventures, Paul Judge, TechSquare Labs, NFL star Derrick Morgan, and NBA star Glen Davis. The funding will go towards building more Monsieur drink robots for bars, restaurants, and my bedroom.

“We are in pilot with several NBA arenas, one of the top hotel brands that has over ​4,000​ locations, and​ a popular movie theater brand that has over ​500​ locations. Monsieur will be in at least 3 NBA arenas this basketball season. Those arenas have a total capacity of​ over​ ​110​,000 attendees,” said co-founder and CEO Barry Givens.Read More

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Singapore’s Temasek to buy $82 mln stake in India’s Devyani -sources

MUMBAI, Oct 9 (Reuters) Temasek Holdings has agreed to invest 5 billion rupees ($82 million) to buy a stake in Devyani International, operator of KFC, Pizza Hut and Costa Coffee chains in India, three sources with direct knowledge of the matter said.

The sources said the Singapore state investor would use 1 billion rupees to purchase part of a holding in Devyani by ICICI Venture, the private equity arm of ICICI Bank(ICBK.NS).

The rest would be a direct purchase in the restaurant chain operator, the sources added, declining to specify the percentage stake that Temasek would acquire.

“The deal is done and an announcement is likely very soon,” one of the sources said.

Devyani International operates more than 300 outlets of restaurant and coffee chains including Pizza Hut, KFC and Costa Coffee in India and other southeast Asian countries, according to its website.

Temasek and ICICI Venture declined to comment, while Devyani International officials did not immediately return phone calls seeking comments.

Private equity funds have invested $4.6 billion in India so far this year, compared with $3.1 billion in 2013, Thomson Reuters data showed. Consumer-related investments contributed to a fifth of the total private equity inflows so far this year.

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Rocket Internet’s FoodPanda Grabs $60M In Fresh Funding

FoodPanda, Rocket Internet’s food delivery service, has its paws on yet another round of funding. This time it is $60 million from existing investor Falcon Edge Capital as well as Rocket Internet AG. The money will be used to expand FoodPanda, as well as its brands hellofood and Delivery Club (a Russian food delivery marketplace that FoodPanda recently acquired), in emerging markets. This funding round brings the total FoodPanda has raised so far to $108 million.

FoodPanda serves as an online marketplace for restaurants. Customers can order food for delivery through FoodPanda’s mobile app, which also gathers analytics and other information for vendors.

Like most of Rocket Internet’s other ventures, including EasyTaxi; e-commerce companies Linio, Lazada, and Zalora; and price comparison site PricePanda, FoodPanda takes a business model that has proven successful before and replicates it in emerging markets, where the cost of starting a company is relatively cheap. FoodPanda is currently available in 40 countries, with a focus on markets in Southeast Asia, Latin America, the Middle East, and Africa. In Russia, FoodPanda operates as Delivery Club.
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Russian Cafe Chain Shokoladnitsa Close to Buying Rival Coffee House

Moscow Times July 24, 2014
One of Russia’s largest coffee shop chains, Shokoladnitsa, is near to closing a deal to buy out rival company Coffee House, Kommersant reported Thursday, citing sources close to the negotiations.

Shokoladnitsa currently boasts 420 coffee shops throughout Russia, 90 of which are franchises, and the takeover would swell its ranks to about 650, the report said.

The country’s next three largest coffee chains — Coffeeshop, Starbucks, and Kofein — have 190 between them.
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HelloFresh Cooks Up $50 Million Series D From Insight Venture Partners


As we inch ever closer to a truly Wall-E world, HelloFresh has secured $50 million in Series D funding led by Insight Venture Partners, with participation from existing investor Phenomen VC.
HelloFresh, an on-demand grocery-delivery service, currently sends over 1 million meals per month, and the “vast majority” of those meals are going to repeat customers.
The Germany-based company competes with Blue Apron and Plated to deliver pre-portioned ingredients and instructions so that you can make a 30-minute meal that tastes great and doesn’t require rifling through any grocery store aisles.
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Bain Capital buys Australian Boost Juice parent

SYDNEY, May 30 (Reuters) – U.S. private equity firm Bain Capital said on Friday it bought Australian fast food company Retail Zoo, owner of Boost Juice Bars, in a deal a source said was worth about A$185 million ($171.84 million). Bain and Retail Zoo, which has 294 stores in Australia and another 100 stores in countries including Malaysia, South Africa, the U.K., Singapore and Russia, confirmed the sale in a statement without elaborating on the details.

A source with direct knowledge of the sale said the deal valued Retail Zoo at about A$185 million, including a stake of less than half to be kept by the company’s husband and wife founders, Executive Chairman Jeff Allis and Executive Director Janine Allis.

The vendor was another U.S. private equity firm, The Riverside Company, which the source said had wanted to sell since late 2013. Local media reported Riverside bought a 65 percent stake for A$65 million in 2010. The source declined to be identified because they were not authorised to speak publicly about the matter. Bain and Retail Zoo did not comment on the value of the deal. Riverside representatives were not immediately available to comment.

Australian food companies are increasingly attractive to offshore investors because they are well placed to capitalise on the growing Asian middle class and its appetite for good quality products.

Earlier this month, Australian bread and dairy company Goodman Fielder agreed to a A$1.37 billion takeover offer from China’s Wilmar International Ltd and First Pacific Co.

On May 27, U.K.-based R&R Ice Cream Plc said it would buy Australian ice cream company Peters Food Group Ltd from its private equity parent Pacific Equity Group in a deal Australian media valued at about A$450 million.

Bain said Retail Zoo represented its second major investment in Australia after accounting software group MYOB, which it bought from Archer Capital for A$1.3 billion in 2011.

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Indonesian retailer Mitra Adiperkasa to sell stakes in pizza, burger chains

JAKARTA, May 21 (Reuters) – Indonesian retailer Mitra Adiperkasa said it will sell majority stakes in its Domino’s Pizza and Burger King chains to keep its capital to develop its other franchises. Mitra Adiperkasa has reached an understanding with Everstone Capital, a private equity firm from Singapore, to sell a majority stake in Domino’s Pizza, vice president director V.P. Sharma said on Wednesday at a public presentation. It will keep a 49 percent stake in the pizza chain.

The company is also is talks with a number of potential buyers, including Everstone, to sell a majority stake in its Burger King franchise business. Sharma said the fast food chains have to have about 120 outlets to give “meaningful profit” for the company but Mitra Adiperkasa has limited capital to invest in the business. Domino’s Pizza now has about 60 outlets and Burger King has 48 outlets. “Our balance sheet is already stretched. By having a strategic partner, we can invest our limited capital into other brands like Starbucks,” he said.

Mitra Food and beverages contribute about 13 percent of Mitra Adiperkasa’s total revenue. Its biggest contributor in the food and beverage division is Starbucks. Most of Mitra Adiperkasa’s revenue comes from its fashion franchise business, which includes brands such as Zara, Marks & Spencer. Sharma said the company would release more details in the next few days.

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