ChrysCapital Acquires 90% Stake in Theobroma Foods for Rs 2,410 Crore
ChrysCapital has agreed to acquire a 90% stake in Theobroma Foods for Rs 2,410 crore, valuing the company below its earlier ask of Rs 3,000 crore. This deal is seen as a significant milestone for high-value transactions in the dining and cafe space.
Theobroma, known for its diverse range of sweets and baked goods presented in attractive and unique settings, is expected to report revenue of Rs 525 crore to Rs 550 crore in FY25, with an EBITDA of Rs 80 crore to Rs 100 crore. The company's steady growth is evident in its compound annual growth rate of 27% over the last year and 151% over three years in net profit. ICICI Venture, which acquired a 42% stake in 2017, is exiting the company entirely. The deal attracted interest from multiple suitors, including Bain Capital, Carlyle, and Switz Group. Theobroma's founders will retain about 10% equity in the company.
This acquisition is one of the largest recent investments in India's quick-service restaurant (QSR) segment and sets a critical precedent for future transactions in the dining and cafe space.
ChrysCapital's acquisition of Theobroma Foods for Rs 2,410 crore signals a significant development in the QSR segment. The deal reflects the company's strong financial performance and growth potential, with Theobroma's founders retaining a stake in the business.
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