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VCGuy
Believe me, itโs not...ย โขย 2m
Yesterday โ reports suggested ChrysCapital finalised a โน2,410 Cr deal to acquire Theobroma. One of India's most loved bakery chains is now set to be one of its largest cash exits in the F&B space. ICICI Ventures (which owned 42%) is expected to walk away with ~โน1,012 Cr on a โน130 Cr investment made in 2017 โ 7.8x return in 7 years Theobroma numbers (FY24, 225 outlets across 30+ cities): โ Revenue: โน452 Cr โ Net Profit: โน27 Cr โ Projected FY25 EBITDA: โน80โ100 Cr Starting in a 1BHK in Colaba in '04, Sisters Kainaz & Tina Messman built a brand on premium bakes + strong word of mouth โ took 10 years to raise their first round of capital: โน22 Lakh from Zend advisors. ๐งThereโs growing PE appetite in F&B, especially for brands with strong recall and national scale - a). Haldiram has seen consistent inbound interest (Temasek + Alphawave invested earlier this year) b). ChrysCapital is likely moving on Belgian Waffle Co next (โน1,000 Cr deal in the works) โญ๏ธTheobroma Founders will likely see one of the largest cash exits by women entrepreneurs in Indian consumer history.
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