Yum Brands all set to get more PE muscle in India
Yum Brands has been on the lookout for a deep-pocketed partner for a while now and by the looks of it, it might be the end of the search. A consortium of private equity funds is in advanced talks with Yum Brands Inc. to acquire franchise rights for west and south India. The deal is said to be worth 100$ million.
If the deal goes through, Samara Capital, CX Partners and a West Asia-based investment firm will together buy out the franchise rights from the US fast-food chain, the Dodsal Group which runs 84 Pizza Hut outlets in west and south India as a franchisee, and several other smaller franchise partners.
In 2013, Yum Brands had announced an investment of 100$ million in India over 3 to 4 years. They are now planning to develop a strong franchise network by replacing a clutch of smaller companies that run the company’s restaurants now. The financial muscle of the private equity companies will be critical as Yum Brands expands to smaller cities and takes on established rivals in Asia’s third largest economy.
This move comes after Jubilant Networks Ltd. successful run of Domino’s Pizza which has been attributed to the company’s strong franchise network and its popular 30-minute doorstep delivery assurance. India became Domino’s largest market outside the US in December with more than 800 outlets.
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