K Hospitality to buy franchisees of Copper Chimney outlets
Hospitality, food services and travel retail frim K Hospitality Corp, has agreed to acquire the franchise units of Copper Chimney outlets from Everstone Capital-owned Pan India Food Solutions for an unspecified amount.
“Following the buyback, K Hospitality has now consolidated all company-owned and franchise operations of the Copper Chimney brand in India,” K Hospitality said in a statement. “The Copper Chimney business will now be an amalgamated part of Charcoal Concepts, the group’s new business segment purely focussed on Indian cuisine and how to take it global,” the statement added.
Charcoal Concepts owns Bombay Brasserie, which operates eight bars and eateries in five Indian cities.
Charcoal is planning to bring new Indian food formats to the market, both in India and abroad, in the next few years.
The group plans to roll out 50 more outlets of Copper Chimney brand across India and abroad in the next five years.
Karan Kapur, director, K Hospitality Corp. said: “The franchise buyback of Copper Chimney is reflective of K Hospitality’s aggressive growth and expansion strategy to bring authentic Indian cuisine to global audiences by building on Copper Chimney’s leading position in the contemporary Indian cuisine space in the country.”