Private equity firm New Silk Route (NSR) is set to acquire Mumbai’s cafe and restaurant chain, Moshe’s. The USD 1.4-billion India-focusede fund will buy over 51 per cent stake in Moshe’s and ramp it up as the food services provider charts national expansion plans in the next few years, as per a report by Samidha Sharma & Boby Kurian in The Times of India.
The 44-year-old Moshe Shek started the SoBo (South Bombay) chain in Cuffe Parade a decade ago. It currently runs a network of ten upscale Mediterranean cafes and restaurants branded Moshe’s in Mumbai.
The deal is part of NSR’s ambitions to build a platform of Indian F&B companies in which it would buy controlling stakes. Last year, it acquired majority shares in South Indian fast food chain Adiga’s, with an expanding foot print in Bengaluru.
NSR, also an investor in the parent of Cafe Coffee Day, has set aside USD 100 million to fund the F&B platform, which is incorporated into a private company holding shares in a slew of operating assets.
Source: Hospitality Biz India