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TVS Shriram Growth Fund has invested 500 million Indian rupees (BD 4.14million) in Om Pizzas & Eats Private Limited, which holds franchise rights in India for multiple brands such as Papa John's Pizza, Chili's and The Great Kabab Factory.
Om Pizza is promoted by Bahrain-based Jawad Business Group (JBG), which has the franchise for several global restaurant and retail brands, and operates over 650 restaurant and retail outlets across the Gulf Co-operation Council states.
Faisal Jawad, chairman and CEO of JBG, said: "We have worked very closely with TVS Capital over the last few months and are delighted that they will be joining hands with us as we seek to enhance our share of the growing Indian out of home consumption market.
"The brands in our portfolio in the form of Papa John's Pizza, Chili's and The Great Kabab Factory have what it takes to be formidable players in the pizza and casual dining segments in India and TVS Capital's investment is very timely in terms of allowing us to capture the growing momentum in these segments."
Gopal Srinivasan, chairman and managing director of TVS Capital, said: "Om Pizza's focus on organised food services industry fits well with the fund's focus on consumption driven opportunities and provides us exposure to significant macro driven opportunities in the eating out market. We are keen to partner with JBG to scale their outlets across India over the next four years. JBG has strong expertise of operating international brands and brings over 10 years of relationships with several of these brands."
