ChrysCapital Acquires 90% Stake in Theobroma Foods for Rs 2,410 Crore
Theobroma Foods, a prominent Indian café chain, has agreed to a substantial deal. ChrysCapital will acquire a 90% stake in the company for Rs 2,410 crore. The deal values Theobroma Foods below its earlier ask of Rs 3,000 crore.
Theobroma Foods began its journey in 2004 as a single café in Mumbai's Colaba Causeway. Since then, it has expanded to over 200 stores across more than 30 Indian cities. The company's revenue growth has been impressive, with a CAGR of 27% over the last year and 54% over three years. Net profit growth has been even more remarkable, at a CAGR of 151% over the last three years. In FY25, Theobroma Foods is expected to report revenue of Rs 525 crore to Rs 550 crore and an EBITDA of Rs 80 crore to Rs 100 crore. ICICI Venture, an early investor, is exiting the company entirely. Theobroma's founders will retain about 10% equity in the company. KPMG represented Theobroma in the negotiation for the majority stake.
ChrysCapital's acquisition of a 90% stake in Theobroma Foods values the company at Rs 2,410 crore. This deal, while below the company's earlier ask, reflects the significant growth and potential of the café chain. Theobroma Foods' impressive expansion and financial performance have made it an attractive investment opportunity.
