Avendus advises Sapphire Foods and its shareholders on its INR 1,150 cr investment round from Creador, NewQuest Capital and TR Capital

We believe the business has a strong foundation and is on an inflection point for growth. We value our relationship with Yum! Brands for their continued innovation and support. This investment round is to fund our strategic initiatives, including new store expansion, as well as to provide partial exit to a few investors. We welcome our new financial partners and look forward to working with them closely in our next phase of growth.

Organized players such as Sapphire Foods have proven their resilience despite the restaurant industry being one of the worst hit sectors from Covid-19 globally. The agility of Sapphire Foods’ management team came to the forefront as they leveraged their omni-channel platform to achieve rapid resurgence in revenue and boost profitability. As is the case in other sectors post Covid, we expect organized and well-managed players to get stronger and gain market share in the food services industry too