CCI approves KKR’s proposal to acquire a significant stake in Rebel Foods. The home-grown food-tech leader operates brands like Faasos, Behrouz Biryani, and Oven Story. This decision signals a major boost for the cloud kitchen sector and its expansion prospects.
CCI approves KKR’s strategic move
The Competition Commission of India (CCI) has cleared KKR’s proposal to acquire shares in Rebel Foods. This deal will take place through Royce Asia Holdings II Pte, KKR’s affiliate. The investment involves both equity shares and compulsorily convertible preference shares.
Rebel foods: A food-tech pioneer
Rebel Foods was founded in 2011 by Jaydeep Barman and Kallol Banerjee. It operates 450 cloud kitchens across 10 countries, including India, Indonesia, and the UK. Popular brands such as Faasos and Behrouz Biryani make Rebel Foods a leader in its field.
Why CCI approved KKR’s proposal
CCI approved the deal under the green channel route, which ensures quick clearance for low-risk transactions. According to CCI, there are no overlaps or links between Rebel Foods and Royce Asia Holdings. This lack of overlap removed concerns about competition issues.
KKR’s vision for rebel foods
Reports indicate KKR will invest $50-70 million in Rebel Foods. This values the company at $800-860 million. The funding will help Rebel Foods scale operations and strengthen its position. This is particularly crucial in a competitive market with rivals like Curefoods and Eatclub.
Recent developments in rebel foods’ growth
Last month, Singapore’s Temasek Holdings also secured CCI approval to invest in Rebel Foods. Global interest in India’s food-tech market is increasing. Rebel Foods remains at the forefront of this evolving industry.
Conclusion
With CCI approving KKR’s stake in Rebel Foods, the company is set for further growth. This partnership highlights Rebel Foods’ role in revolutionising cloud kitchens in India and beyond.
