Franchise Latest News India: Atulya Mittal, who a year ago gained a lion’s share stake in OM Pizza & Eats, Papa John’s franchisee in India, is currently looking to secure Pizza Corner, the nation’s first pizza chain.
The obtaining may see a merger of the Pizza Corner operations with Papa John’s through a blending of money payout and offer swap.
Pizza Corners offerings incorporate pizzas and pastas, and inviting side dishes like greens and chicken wings that are offered through stands, conveyance outlets, eat ins and huge restaurants.
The brand took off extremely well at first, however the fast extension of the outlet took a toll on the productivity.
Right now the organization has a solid toehold in the southern area working around 70 outlets of which three fourths are possessed by the organization while the rest on franchisee premise.
Headqurtered in Geneva, Pizza Corner is a brand claimed by Global Franchise Architects, etablished by serial business person Fred Mouawad in Chennai in 1996. GFA likewise possesses and works Cream and Fudge’, ‘Donut Baker’ and ‘Espresso World’. GFA is a piece of Synergia One, whose ranges of competency compass crosswise over IT, distributed, gems and counseling.
Atulya Mittal is an executive of Avan activities and a graduate in account from the Wharton School. He additionally holds a MBA from Harvard Business School and has worked at Citigroup Inc. furthermore Ispat Industries Ltd before beginning Avan. He is the child of Vinod Mittal, who sold Ispat to JSW three years prior.
Atulya denoted his entrance into the F&b area securing the Papa John’s franchisee from TVS Capital and other minority stake holders.
The $13-billion marked QSR Indian market has pulled in light of a legitimate concern for some worldwide players. According to Food Services business sector is worth INR 2476 Bn ($48 Bn). It includes nourishment benefits in the composed part (i.e. chain and licenseds tandalone players crosswise over speedy administration restaurants, full- administration easy and fine feasting restaurants, lodgings, bars and parlors, bistro s, andfrozen sweet arrangements ) and also the disorderly sector(dhabas, road stalls, halwais (sweet shops), roadside merchants, nourishment trucks, and so forth.). Further, the business is anticipated to develop to INR 4080 Bn ( $ 78 Bn) by 2018.
As of late Neo Politan Pizza, a Gujarat based QSR chain has secured an undisclosed measure of venture from Sarthi Angels Venture Foundation. Additionally US based dessert and QSR chain, Dairy Queen was searching for an accomplice to invasion into the Indian QSR market