K Hospitality Corp., which is into hospitality, food services and travel retail, has entered into an agreement to acquire the franchise units of Copper Chimney outlets from Everstone Capital-owned Pan India Food Solutions for an unspecified amount.
“Following the buyback, K Hospitality has now consolidated all company-owned and franchise operations of the Copper Chimney brand in India,” K Hospitality said in a statement. “The Copper Chimney business will now be an amalgamated part of Charcoal Concepts, the group’s new business segment purely focussed on Indian cuisine and how to take it global,” the statement added.
Charcoal Concepts owns Bombay Brasserie, which operates eight bars and eateries in five Indian cities.
New food formats
Charcoal is planning to bring new Indian food formats to the market, both in India and abroad, in the next few years.
Over the next four years, the group plans to scale up the Copper Chimney brand to more than 50 outlets across India and abroad.
Karan Kapur, director, K Hospitality Corp. said: “The franchise buyback of Copper Chimney is reflective of K Hospitality’s aggressive growth and expansion strategy to bring authentic Indian cuisine to global audiences by building on Copper Chimney’s leading position in the contemporary Indian cuisine space in the country.”
Founded in 1972, Copper Chimney is a recognised brand in the Indian cuisine category, nationally.