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Milkshake Brand Keventers Onboards Jubilant Bhartia Group As Minority Partner

It will deploy the fresh capital towards the opening of new stores and expanding its footprint pan India and globally, while also foraying into alternate channels

Milkshake Brand Keventers Onboards Jubilant Bhartia Group As Minority Partner
Keventers

Outlook Start-Up Desk

POSTED ON October 27, 2022 7:02 PM

Keventers, a milkshake, and ice cream brand, announced an equity investment from a privately held company of the Jubilant Bhartia Group, in Super Milk Products Private Limited (SMPPL), which operates the brand globally. Jubilant has been inducted as a minority partner in SMPPL. 

The transaction is subject to fulfilment of closing conditions by both parties. KPMG acted as the exclusive financial advisor to SMPPL on this transaction.

SMPPL will deploy the fresh capital primarily towards opening new stores and expanding its footprint in India and globally while also foraying into alternate channels such as direct-to-consumer, FMCG and cloud kitchens. 

The investment is expected to help accelerate the brand’s plan to open over 300 stores in the next three to four years. It is aiming to grow the ice cream business, which has shown tremendous growth since the pandemic. 

Tracing its roots back to 1925, Keventers is a quick-sales restaurant chain that provides milkshakes and beverages in glass bottles, which have become collectibles among its diverse consumer base. It recently launched its gourmet ice cream range to diversify its dessert portfolio.

Last year, Jubilant Bhartia Group invested $570,000 in Faridabad plant-based meat start-up Mister Veg Foods. This marked its foray into the growing plant-based meat sector. 

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