Hunch Ventures has acquired casual and fine dining chain Jamie Oliver Restaurants from International Market Management (IMM), a UK-based consumer investment platform that previously held a 51% stake in the company.
Financial details of the deal have not been divulged by the companies.
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The deal designates Hunch as the exclusive operator of the brand’s operations in India: Jamie’s Pizzeria, Jamie’s Italian and Jamie Oliver Kitchen.
Hunch Ventures also aims to expand the brand into Tier-2 and Tier-3 cities through owned and franchised outlets, according to reports in numerous Indian publications including The Economic Times.
In September 2018, Hunch Ventures invested Rs1bn ($11.36m) in the US burger chain Wendy’s and the fine dining chain Jamie’s Italian in India, according to a Restaurant India report.
The firm has now secured a 50% stake in Sierra Nevada Restaurants and Dolomite Restaurants, which were jointly owned by IMM and operated Jamie’s Pizzeria, Italian and Kitchen chains in the country.
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By GlobalDataJasper Reid confirmed the acquisition to Restaurant India: “Hunch, the joint venture partner of IMM, will now become the sole owner of Jamie Oliver Restaurants in India.”
He noted that the UK shareholders were looking for an exit from the brand.
Hunch Ventures also manages The Quorum, a members-only club located in Mumbai and Gurgaon, as well as the café chain Tea Monk within the food and beverage sector.
Jamie Oliver Restaurants made its debut in India in 2015 with the launch of its first outlet at Ambience Mall at Vasant Kunj in the Indian capital, New Delhi. The chain currently operates 15 locations in cities including Delhi, Mumbai, Pune, Ahmedabad, and Lucknow.
