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Vasudev Adiga’s Fast Food outlets expand from 12 to 34 with US$100 m funds
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Nandita Vijay, Bengaluru
June 27 , 2015
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Vasudev Adiga’s Fast Food, which received a fund infusion of US$100
million from New Silk Route (NSR), almost tripled its outlets from 12 in
2012 to 34 in 2015.
Superior designs, better project
management, tighter budgeting, streamlined staff recruiting and training
were all key to this rapid build out, according to Jacob Kurian, CEO,
Vasudev Adiga’s Fast Food.
In an email to FnB News, he stated,
“Funds have been utilised to open new outlets and to strengthen the
back-end, latest equipment and refurbish older outlets. In addition,
there has been a major investment in modernising the central kitchens.”
NSR holds 60 per cent controlling stake in Vasudev Adiga's
through its food and beverage company, South Asia Gastronomy Enterprises
(SAGE). The deal with Adiga's was NSR’s second investment in the food
and beverage space after Cafe Coffee Day, one of the largest coffee
retailing players in Asia.
In fact, NSR actively looks at
investing in Indian food and beverage companies which have a strong
brand and reputation for good food. Through SAGE, NSR has allocated
approximately US$100 million to invest, build and grow companies in this
sector. SAGE is transforming family businesses into a
professionally-run setup with a clear growth plan. It builds on the
concepts started by entrepreneurs and brings in four major facets of
growth: capital, expertise, people and processes to scale-up businesses
for rapid expansion.
The 15-year-old Adiga’s is one of the
largest restaurant chains in Karnataka. It is known to serve a
whopping 1.8 million customers every month. The company is of the view
that it could add another 20 outlets in Bengaluru, according to Kurian.
“We believe
in a saturation policy when looking at expansion and so has preferred
to focus on opportunities within the state of Karnataka and has also
completed detailed evaluation of markets in other states as well. The
company has been witnessing a strong year-on year growth and aims to
have 100 outlets by 2018,” he added.
Vegetarian food is
preferred in India. Many Indians are pure vegetarians. There are many
non-vegetarians who opt for vegetarian food outside the home due to
concerns about food safety. Besides the traditional Indian breakfast
meal has always been predominantly vegetarian, in most Indian homes.
The
landscape of food consumption is undergoing a transformation with new
trends like vegan and gluten-free foods. The young are citing a host of
reasons for going the vegetarian way, from personal taste and concerns
about animal treatment to influence of peers and celebrities. “The
increased consciousness about healthy eating is also fuelling a new
appreciation for vegetarian food,” concludes Kurian.
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