Adyar Ananda Bhavan sells majority stake worth $180 mn to Bodhi Tree
Deal sealed to expand southern restaurant chain’s global footprints; Bodhi Tree co-founder Uday Shankar to chair new board
Popular South Indian restaurant chain, Adyar Ananda Bhavan, also known as A2B, has reportedly sold a majority stake to Bodhi Tree Systems for $180 million.
Reports said Veda Corporate Advisors advised A2B, while Moelis & Co. advised Bodhi Tree Systems, in a deal touted as one of the largest in India’s food services sector.
Eye on global expansion
A2B called the deal a strategic partnership to drive its plans to expand the brand globally.
Bodhi Tree Systems is a strategic investment and operating platform founded by James Murdoch and former Star India and Disney executive Uday Shankar in 2021.
The companies haven’t divulged the size of the stake sold and A2B’s valuation.
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Shankar will chair A2B’s new board of directors.
“A2B has earned the trust of millions of families through its consistent and reliable quality,” the co-founders of Bodhi Tree Systems said, as quoted by Business Standard.
A2B co-founders to offer guidance
“We are grateful to the co-founders, KT Srinivasa Raja and KT Venkatesan, for this opportunity to partner with them to build a differentiated, professionally managed Indian food company, one that sets new standards for the sector. While A2B is a formidable brand in India, we are equally impressed by the scale and reach of its operations in Singapore, the United States, Australia, Malaysia, and the UK. We look forward to working with the team to take its authentic cuisine to a far broader global audience," Shankar was quoted as saying.
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The restaurant chain headquartered in Chennai operates 160 outlets across Tamil Nadu, Karnataka, Andhra Pradesh and Puducherry and 30 outlets worldwide, including in the US, Singapore, Australia and Malaysia.
TOI, quoting sources familiar with the deal, said that the discussions for the tie-up have been going on for more than a year. The report said that under the new system, A2B co-founders and brothers KT Srinivasa Raja and KT Venkatesan will offer guidance.
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