United Pizza Restaurants Pvt Ltd, operators of US Pizza chain, is all set to dilute 49% stake to Nirmal Kotecha of Kotecha Capital to fund its expansion plan.
The company plans to use the funds, estimated to be around Rs 30 crore, in capacity expansion, logistics, research & development and training, indicated Akbar Khwaja, managing director, United Pizza Restaurants Pvt Ltd.
The company is scaling up capacity of its Bangalore factory from 5,000 to 50,000 pizzas per day. By 2008, it plans to add 99 outlets including express, dining and delivery stores to take the total to 158 outlets.
The company is also looking at exporting pizzas to markets like Europe, Far East, East Africa, China and Dubai.