Baking a Billion-Dollar Deal? ChrysCapital Eyes Theobroma Again

ChrysCapital has initiated fresh talks to buy Theobroma Foods, the trendy patisserie and bakery chain, at a far lower valuation of Rs 1,800 crore ($206 million). This represents a huge markdown from the initial valuation of Rs 2,400-2,500 crore talked about at the end of last year. The talks, which had stalled for about six weeks due to Theobroma's poor financial results, have resumed amidst challenging market conditions and limited interest from other potential buyers. Theobroma, founded two decades ago, now boasts 200 stores across 30 cities. The deal, if successful, could reshape the landscape of India's quick-service restaurant sector, aligning with ChrysCapital's strategy to create a platform in this space.
Source: The Economic Times