PE Fund Investments
India Resurgent Fund invests Rs.550-Cr in F&B co Impresario to acquire majority stake
India Resurgence Fund (IndiaRF), an investment platform backed by Piramal Enterprises and Bain Capital, has invested INR 550 crore in food and beverage (F&B) company Impresario Entertainment & Hospitality and become the majority shareholder. L Catterton (the LVMH-backed investment firm), which had invested in Impresario in 2017, has exited its investment as part of the latest deal. Lodha Capital Markets was the exclusive financial adviser to L Catterton and Impresario on the transaction. Impresario currently owns and manages brands such as Social, Mocha, and Smoke House Deli. The primary funds from the latest transaction will be used by the company to double its number of outlets from 17 to more than 30 cities.
From the Venture Intelligence PE-VC Deal Database: In Dec-17, L Capital Asia had invested about USD 46 M in Impresario. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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