Bodhi Tree Systems invests $180 million in Adyar Ananda Bhavan
The investment platform aims to expand the restaurant chain's domestic and international footprint.
Bodhi Tree Systems (BTS) has acquired a majority stake in the restaurant and snack store chain Adyar Ananda Bhavan (A2B) for $180 million, according to reports from The Times of India, Financial Express and Mint. The size of the stake sold and the valuation of A2B were not disclosed.
The investment platform, co-founded by James Murdoch and Uday Shankar, intends to support the expansion of the brand in Indian and overseas markets. Uday Shankar will serve as the chairperson of A2B’s new board of directors. Veda Corporate Advisors acted as the exclusive financial adviser to A2B, while Moelis & Co was the transaction adviser to Bodhi Tree Systems.
A2B currently operates 160 outlets in India, including in Tamil Nadu, Karnataka, Andhra Pradesh and Puducherry, and more than 30 outlets globally in locations such as Singapore, the US, Australia, Malaysia and the UK. The company employs over 15,000 people.
The collaboration will focus on strengthening leadership, building digital capabilities, modernising kitchens and manufacturing to global standards, and expanding the range of healthy food and packaged products. Sources suggest the company may look to go public in the next three to four years.
A2B co-founders K T Srinivasa Raja and K T Venkatesan will provide guidance in the partnership. Srinivasa Raja stated that the plan would make A2B a company fit for the public markets. James Murdoch and Uday Shankar said they look forward to taking the brand's cuisine to a broader global audience.