ICICI Venture to sell its entire 42% stake in patisserie chain Theobroma?
Banking & Finance
ICICI Venture will sell its entire 42 per cent stake in patisserie chain Theobroma Food Pvt Ltd and has begun the talks with merchant bankers, along with other promoters and investors, a report by Mint said on Tuesday. It is expecting the 20-year-old chain to be valued at Rs 2,800 crore.According to the report, at this valuation, ICICI Venture's stake may fetch Rs 1,200 crore. The deal is expected to take six to nine months as the company's 2023-24 financials are yet to be released.
Theobroma was founded in Mumbai in 2004 by a former pastry chef at Oberoi Hotels Kainaz Messman.
. It operated as a single-outlet business for a long time. Now, it has 194 outlets across the country and is famous for its brownies, crackers, cookies, pastries and sandwiches
According to the report, at this valuation, ICICI Venture's stake may fetch Rs 1,200 crore. The deal is expected to take six to nine months as the company's 2023-24 financials are yet to be released.
CEO: Sandeep Bakhshi
Founded: 1994, Vadodara, Headquarters: Mumbai
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