Jubilant FoodWorks Ltd. (JFL), has announced an investment of ₹92 crore in Barbeque-Nation Hospitality Ltd. (BNHL) for an equity stake of 10.76%. “Towards this end, the company has entered into a Share subscription agreement to acquire equity shares and a restated shareholders’ agreement to regulate the rights and obligations of BNHL’s key shareholders,” JFL said in a regulatory filing.
BNHL operates 138 Barbeque Nation Restaurants in 73 cities in India and 7 International Barbeque Nation Restaurants (as of 30 November, 2019).
It also has a presence in the Italian cuisine segment under the brand, Toscano.
Shyam S. Bhartia, chairman and Hari S. Bhartia, co-chairman, JFL said, “We are confident that the proposed investment will create value for our shareholders.”