Restaurant chain Olive Bar & Kitchen is planning a PE raise of around 200 crore from new investors (Aditya Birla Private Equity fund is already an existing investor) for rapid expansion, as reported in a leading daily. According to the report, the company is currently in talks with around five PE funds.
The daily also mentioned that the restaurant chain was looking for a fresh round of funding because the $10 million fund raised from Aditya Birla PE had been utilised and more capital was needed for growth. Aditya Birla Private Equity Fund had acquired a minority stake in the company in 2012. It will remain a stakeholder after the second round of funding.
Olive Bar & Kitchen operates brands like the Olive, Soul Fry brands, LAP, Ai and Monkey Bar. Olive was founded In 2000 by AD Singh.
Apart from Aditya Birla Private Equity Fund , the restaurant chain also has owner of Adlabs Films and Imagica, Chandir Gidwani and Manmohan Shetty, as investors.
