By: RUMMAN AHMED
Source: http://online.wsj.com/
BANGALORE – Gourmet Investments (P) Ltd. and PizzaExpress HoldingsPvt. Ltd. Friday entered into a 50-50 joint venture to launch the privately held U.K.-based Gondola Group's PizzaExpress chain of restaurants in India.
Gourmet Investments is owned by the Bharti Family Office, an entity that handles the personal investments of the founders of Bharti Enterprises Ltd.
The first restaurant is expected to be launched some time next year, Bharti Enterprises said in a statement.
The deal comes as foreign food companies seek to capitalize on the growing propensity among India's middle class to dine out and spend more on beverages and processed foods.
Dunkin' Donuts, a unit of U.S.-based Dunkin' Brands Inc., signed an agreement with India's Jubilant FoodWorks Ltd. in February to open 25-30 Dunkin' Donuts outlets over the next three years.
U.S. coffee shop chain Starbucks Corp. is also likely to announce shortly an alliance with Tata Coffee Ltd. to open outlets in the country.
Bharti Enterprises is the parent company of Bharti Airtel Ltd., India's largest telecommunications company by users. It has interests in retail through Bharti Retail Ltd. and Bharti Wal-Mart Ltd., a joint venture with Wal-Mart Stores Inc. The group has also expanded into the insurance, financial services, realty and higher-education sectors.
Source: http://online.wsj.com/article/SB10001424052970203687504577003754015158544.html
Source: http://online.wsj.com/
BANGALORE – Gourmet Investments (P) Ltd. and PizzaExpress HoldingsPvt. Ltd. Friday entered into a 50-50 joint venture to launch the privately held U.K.-based Gondola Group's PizzaExpress chain of restaurants in India.
Gourmet Investments is owned by the Bharti Family Office, an entity that handles the personal investments of the founders of Bharti Enterprises Ltd.
The first restaurant is expected to be launched some time next year, Bharti Enterprises said in a statement.
The deal comes as foreign food companies seek to capitalize on the growing propensity among India's middle class to dine out and spend more on beverages and processed foods.
Dunkin' Donuts, a unit of U.S.-based Dunkin' Brands Inc., signed an agreement with India's Jubilant FoodWorks Ltd. in February to open 25-30 Dunkin' Donuts outlets over the next three years.
U.S. coffee shop chain Starbucks Corp. is also likely to announce shortly an alliance with Tata Coffee Ltd. to open outlets in the country.
Bharti Enterprises is the parent company of Bharti Airtel Ltd., India's largest telecommunications company by users. It has interests in retail through Bharti Retail Ltd. and Bharti Wal-Mart Ltd., a joint venture with Wal-Mart Stores Inc. The group has also expanded into the insurance, financial services, realty and higher-education sectors.
Source: http://online.wsj.com/article/SB10001424052970203687504577003754015158544.html
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