Siguler Guff, a multi-strategy private equity firm, has invested in Trimex Foods, the exclusive Indian franchise partner for global food brands including Chili’s Grill & Bar, PAUL, and Cinnabon, per an announcement.
The investment marks Trimex Foods’ first institutional capital raise and will support the company’s expansion of its existing brand portfolio across India, along with the onboarding of new international food and beverage brands.
Founded in 2010, Trimex operates over 50 restaurants and bakery-cafés across 13 cities in India.
“India’s food services sector is undergoing a structural shift as consumers increasingly gravitate towards globally recognised dining experiences,” Shaun Khubchandani, partner and co-portfolio manager at Siguler Guff, said in a media statement.
A spokesperson for Trimex Foods added: “Siguler Guff’s global expertise and their track record of partnering with consumer businesses in emerging markets make them a great partner for our next phase of growth.”
Of late, India’s food and beverage (F&B) sector has seen a spate of deals with Haldiram’s topping the list so far, garnering roughly $1 billion from Temasek. The snacks brand also counts Alpha Wave Global, among others, as its backers.
In other deals, premium bakery chain Theobroma raised $281 million in a funding round led by homegrown private equity giant ChrysCapital last year.
More recently, Apax Partners has invested about Rs 1,300-1,500 crore in iD Fresh Food in lieu of a significant minority stake.
