Trimex Foods, which operates global cafe and restaurant brands Chilli's Grill & Bar, Cinnabon and Paul Bakery in India, has mandated EY to sell a minority stake, people aware of the development said.
They are in talks with half a dozen private equity funds and family offices, and the company is expected to be valued at ₹700-800-crore, sources said.
"Trimex is in negotiations with potential suitors and the process for a stake sale is underway," one of the executives said. "Cafes, dessert chains, packaged foods, and casual dining are among the hottest sectors being wooed by investors currently."
Emails sent to Robby Gulri, who owns Trimex, and EY remained unanswered until press time Tuesday.
His brother Manpreet Gulri has been one of the largest franchisees of Subway in India.
The fresh capital will be used to fund expansion, people cited above said.
Founded in 2019, Trimex has a footprint of over 50 outlets. It reported a revenue of ₹206 crore for 2023-24, and an Ebitda CAGR of 344%, according to filings sourced from Tracxn.
According to the company website, Trimex has a workforce of approximately 1,800 across its operations in India and Sri Lanka.
"Currently in a major expansion phase, the company aims to scale its operations to 200-plus outlets by 2030. To fuel this growth, Trimex Foods is strategically positioning itself for rapid expansion and market dominance," the website states.
Trimex Foods holds the expansion and development rights for Chili's Grill & Bar - owned by Dallas-based casual dining restaurant company Brinker International, Inc - across India, Sri Lanka and Bangladesh.
They are in talks with half a dozen private equity funds and family offices, and the company is expected to be valued at ₹700-800-crore, sources said.
"Trimex is in negotiations with potential suitors and the process for a stake sale is underway," one of the executives said. "Cafes, dessert chains, packaged foods, and casual dining are among the hottest sectors being wooed by investors currently."
Emails sent to Robby Gulri, who owns Trimex, and EY remained unanswered until press time Tuesday.
His brother Manpreet Gulri has been one of the largest franchisees of Subway in India.
The fresh capital will be used to fund expansion, people cited above said.
Founded in 2019, Trimex has a footprint of over 50 outlets. It reported a revenue of ₹206 crore for 2023-24, and an Ebitda CAGR of 344%, according to filings sourced from Tracxn.
According to the company website, Trimex has a workforce of approximately 1,800 across its operations in India and Sri Lanka.
"Currently in a major expansion phase, the company aims to scale its operations to 200-plus outlets by 2030. To fuel this growth, Trimex Foods is strategically positioning itself for rapid expansion and market dominance," the website states.
Trimex Foods holds the expansion and development rights for Chili's Grill & Bar - owned by Dallas-based casual dining restaurant company Brinker International, Inc - across India, Sri Lanka and Bangladesh.