India Resurgence Fund is a India-focused investment platform promoted by Piramal Enterprises andBain Capital .- With this, IndiaRF has become the majority shareholder in
Impresario Entertainment and Hospitality. - Impresario operates famous brands like
SOCIAL , Mocha,Smoke House Deli , Slink & Bardot, and Salt Water Café.
Impresario owns and manages several restaurants and cafes across 17 cities. It operates famous brands like SOCIAL, Mocha, Smoke House Deli, Slink & Bardot, and Salt Water Café. It also owns and operates dark or virtual kitchen brands like BOSS Burger, Lucknowee and HungLi. In 2017, private equity firm L Catterton invested in Impresario.
IndiaRF’s investment will help fuel Impresario’s growth plans. The company plans to double its outlets and enlarge its current geographical footprint from 17 to more than 30 cities as it believes India’s food and beverage market is set to get more organised – growth is expected to be in the high teens over the coming years.
A burgeoning middle class, as well as millennial and Gen Z consumers looking for refreshing and engaging experiences as they dine out more often amid the market’s evolution will drive demand, the company said.
“While the journey through the pandemic was especially tough for the restaurant sector, we were able to not only sustain, but also strengthen our business. As we now begin a new chapter with IndiaRF, we look forward to a fruitful collaboration which we believe will propel Impresario to an exciting next stage of growth,” said Riyaaz Amlani, founder and managing director of Impresario.
India Resurgence Fund invests from its $629-million IndiaRF Fund I, which raises funds from international institutional investors, high net worth investors and family offices. The fund looks to invest in businesses that have fundamentally strong growth prospects linked to consumption and infrastructure needs of India.
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