Your Dindigul Thalappakatti's biriyani brand is valued at Rs.860 crore

Dindigul Thalappakatti

Your Dindigul Thalappakatti's biriyani brand is valued at Rs.860 crore

Dindigul Thalappakatti (“DT”), owned by CX Partners, has raised a second round of finance valued at Rs. 860 crore. Tree Line Investment Management spearheaded the fundraising with other well-known private and public investors. The ‘Havells Group' family office is also an investor.

To accelerate growth in its target markets of Kerala, Andhra Pradesh, Telangana, Karnataka Tamil Nadu and Sri Lanka. Dindigul Thalappakatti intends to open 25-30 eateries and cloud kitchens in the coming year. The brand now has 85 restaurants and cloud kitchens worldwide.

Despite the exceptional COVID pandemic occurrences over the last 18 months, Dindigul Thalappaktti quickly recovered and remains one of the few F&B brands profitable in FY 2020-21.

Desai Diwanji advised the company and its existing stockholders. Existing shareholder Sahil Jain advised the deal. For Rs. 235 crore, a consortium led by private equity company CX Partners acquired a majority share in Dindigul Thalappakatti. The October 2019 deal was one of the largest investments in an Indian restaurant franchise.

“The basic foundation of Dindigul Thalappakatti's brand is rooted- in its rich legacy, authenticity, and uniqueness,” stated Ashutosh Bihani, CEO. Dindigul Thalappakatti has long had significant brand loyalty in south India and now in other markets. In the fragmented and commoditised Biryani Market, we want to grow faster and more profitably.”

Previously a private equity investor, Bihani attributes the brand's distinctiveness to its unique product and value proposition, customer and employee focus, and highly lucrative strategy with restaurant paybacks ranging from 18 to 24 months.

We are thrilled to invest and work with Dindigul Thalappakatti as they expand this established and excellent cuisine across Southern India and various overseas markets. DT has found popular meals at affordable prices. We are pleased to be a part of DT's mission to grow and scale across the South.

The first Dindigul Thalappakatti Restaurant debuted in 1957 in Dindigul, Tamil Nadu. It has 87 stores across India, USA, UAE, Singapore, Malaysia, and Sri Lanka. Restaurants in Tamil Nadu, Karnataka, Kerala and Pondicherry. The Thalappakatti restaurant offers authentic South Indian cuisine.

CX Partners is an Indian private equity firm that invests in middle market firms in healthcare, financial services, consumer items, outsourced services, and specialist manufacturing. CX is one of the few active restaurant investors.

Tree Line Investment Management Limited was founded in 2006 and has offices in Hong Kong and Singapore. Tree Line has nine investment professionals spanning Asia-Pacific, six of which are senior members with over twenty-five years experience.

The group seeks to make big capital gains by discovering long-term growth prospects in Asia-Pacific. Tree Line Advisors (Hong Kong) Limited is regulated by the Hong Kong Securities and Futures Commission to handle assets for professional investors.