Aditya Birla New Age Hospitality (ABNAH), the hospitality arm of Aditya Birla Group, has acquired the entire stake in KA Hospitality Private (KAH) that owns restaurant brand CinCin. The acquisition, which expands its hospitality play, also adds three global brands to its portfolio.
The financial terms of the deal were not disclosed.
Apart from CinCin, the acquisition would bring three other brands — Hakkasan, Yauatcha and Nara Thai – spanning the mid-market to premium segments under its fold. With this acquisition, ABNAH, promoted by Aryaman Vikram Birla, has added seven restaurants to its portfolio across three cities, it said in a statement.
Hakkasan is a Michelin-starred brand serving modern Cantonese food, Yauatcha is a dim sum teahouse from London, Nara Thai is a brand serving Thai cuisine and CinCin is an Italian brand.
Aryaman Vikram Birla, director, Aditya Birla Management Corporation Private and founder, ABNAH said: “We continue to believe in the remarkable potential of the premium casual dining space, spurred by rising disposable income and evolving lifestyles of the Indian consumer. The intersection of growing affluence and the desire for new-age, high-quality dining experiences presents an incredible growth opportunity.”
“Each of the four brands uniquely stands out while maintaining a steadfast commitment to delivering exceptional culinary experiences. Dynamism is the lifeblood of the food industry, and our plan is to broaden the reach of these brands and take these distinctive dining experiences to other cities across India,” he added.
KA Hospitality was founded by the late Kishor Bajaj, who had introduced Hakkasan and Yauatcha to Mumbai, in 2011.
Karyna Bajaj, executive director of KAH, said: “Over the span of 12 years, we have nurtured our family business with unwavering commitment. We have built KAH from its very foundation, driven by passion into a formidable establishment renowned for crafting exceptional dining experiences. It is with great pride that we now pass the baton to ABNAH, to uphold and elevate the legacy of KAH as its future custodians.”
ABNAH currently operates Jolie’s, a members-only club at Worli, Mumbai, and has plans to build premium casual dining restaurant chains across India, fast-growing segment in the organised food services market.