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Indian Hospitality Corp acquires 100 per cent stake in Adelie Food Group
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Saturday, 14 April, 2012, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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India Hospitality Corp has acquired 100 per cent stake in the $350 million-plus Adelie Food Group, a UK-based player in the convenience food segment, from Duke Street Capital.
The group owns some of the best-known convenience food companies in Britain, including Buckingham Foods, Superior Foods, Food Partners, Brambles Foods, etc. Besides these, it owns the popular ‘food to go’ brand Urban Eat.
IHC’s acquisition of Adelie Food Group is believed to be one of the largest deals in the food space by any Indian company. IHC has acquired this stake at close to one time the sales value of Adelie Foods as per market observers. The company refused to divulge further details citing confidentiality.
IHC is promoted by entrepreneurs Ravi Deol (who founded Barista) and Sandeep Vyas. They have separately been involved with some of the largest global retail and food brands and have helped pioneer their entry into India and emerging markets. IHC as a company has a strong track record of investing in successful food businesses around the world.
“IHC plans to use the upstream sophisticated market capabilities of Adelie and Food Partners to accelerate the roll-out of its food services business in India. This deep product, innovation and chilled distribution expertise will enable us to delight Indian consumers with great tasting products and services", said Ravi Deol, chairman, IHC Foods.
He further said, “IHC is excited to own Adelie Foods Group and with its inherent potential to grow it into a global player in this segment besides strengthening its current leadership in the UK. Adelie will spearhead its march in creating chilled food manufacturing, distribution and customer expertise in its other territories like India where the food to go market is rapidly emerging and still nascent".
Post-acquisition, the existing structure of Adelie as the umbrella parent company will continue, and Food Partners and Buckingham Foods will maintain their local identities.
In India IHC's India food partners business is already the leading provider of food products to major food retailers and coffee chains such as Cafe Coffee Day.
The acquisition of Adelie Food is the company’s first major investment in the UK. IHC had recently divested India's largest air catering business SkyGourmet to the Zurich-based GateGroup. It continues to own some well-known restaurant brands such as Birdys, All Stir Fry, Jazz by the Bay, Just Around the Corner, Dosa Diner, etc., besides the hotel chain Gordon House.
Adelie Food Group, which also owns Food Partners Group, produces and supplies food such as quiches, salads and sandwiches for supermarkets, coffee shops, cafes and airlines. It is among the largest food service players in the world's most advanced chilled food market.
The Adelie Group currently employs more than 3,000 talented people across its Heathrow-based head office, seven manufacturing locations and nationwide distribution network. It supplies many of the UK’s leading multiple and independent grocery retailers, coffee shop chains, contract caterers and airlines with a wide range of high quality food to go products.
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