ET BureauNEW DELHI: French Bakery , which owns and operates a chain of premium-segment bakeries and patisseries under the brand name L'Opéra, has hit the market to raise its first round of institutional funding.
The NCR-based F&B chain, which is looking to raise between Rs 40 crore and Rs 50 crore, is believed to be in advanced stages of negotiations with a number of PE and VC firms, along with family offices that have an established track record in backing such ventures, for a minority stake in the company .
According to sources aware of the developments, investment bank Langham Capital has been mandated by the company to scout for potential investors, and a deal, if successful, is expected to close by December-January.
Kazem Samandari, executive chairman of L'Opéra, confirmed that the company, which was, till date, largely bootstrapped, apart from raising a small sum from friends and family , is in talks to raise its first round of funding.
When contacted by ET, Kazem Samandari, executive chairman of L’Opéra, confirmed that the company, which was, till date, largely bootstrapped, apart from raising a small sum from friends and family, is in talks to raise its first round of funding. He, however, declined to provide specifics, citing confidentiality.
The company is expected to use the proceeds to further expand its footprints across the country. L’Opéra, which is currently present in 14 locations across Delhi-NCR, plans to open about 66 locations across India, starting off with Mumbai, Bengaluru, Pune and Chennai, by 2020.
According to Samandari, the company, which currently has its main manufacturing facility in Noida, will also look to set up more manufacturing bases across the country. Founded by Samandari and his son Laurent, in 2008, both French citizens, L’Opéra expects to post revenue of Rs 160-Rs 180 crore in fiscal 2017.
The Indian F&B sector has seen a string of prominent investment firms, such as growth-stage private equity firms, Everstone Capital, New Silk Route and India Value Fund Advisors, among others, rapidly build up their portfolios in the space, largely by picking up controlling stakes in the ventures.
Others, such as Deepak Shahdadpuri-led DSG Consumer Partners have also backed a number of prominent ventures, such as Impresario Foods, at their early stages.
According to a Grant Thornton-FICCI report released earlier, the country’s food and beverage market, which is currently estimated to have a market size of over Rs 2 lakh crore, is expected to touch Rs 3.80 lakh crore by 2017.
The NCR-based F&B chain, which is looking to raise between Rs 40 crore and Rs 50 crore, is believed to be in advanced stages of negotiations with a number of PE and VC firms, along with family offices that have an established track record in backing such ventures, for a minority stake in the company .
According to sources aware of the developments, investment bank Langham Capital has been mandated by the company to scout for potential investors, and a deal, if successful, is expected to close by December-January.
Kazem Samandari, executive chairman of L'Opéra, confirmed that the company, which was, till date, largely bootstrapped, apart from raising a small sum from friends and family , is in talks to raise its first round of funding.
When contacted by ET, Kazem Samandari, executive chairman of L’Opéra, confirmed that the company, which was, till date, largely bootstrapped, apart from raising a small sum from friends and family, is in talks to raise its first round of funding. He, however, declined to provide specifics, citing confidentiality.
The company is expected to use the proceeds to further expand its footprints across the country. L’Opéra, which is currently present in 14 locations across Delhi-NCR, plans to open about 66 locations across India, starting off with Mumbai, Bengaluru, Pune and Chennai, by 2020.
According to Samandari, the company, which currently has its main manufacturing facility in Noida, will also look to set up more manufacturing bases across the country. Founded by Samandari and his son Laurent, in 2008, both French citizens, L’Opéra expects to post revenue of Rs 160-Rs 180 crore in fiscal 2017.
The Indian F&B sector has seen a string of prominent investment firms, such as growth-stage private equity firms, Everstone Capital, New Silk Route and India Value Fund Advisors, among others, rapidly build up their portfolios in the space, largely by picking up controlling stakes in the ventures.
Others, such as Deepak Shahdadpuri-led DSG Consumer Partners have also backed a number of prominent ventures, such as Impresario Foods, at their early stages.
According to a Grant Thornton-FICCI report released earlier, the country’s food and beverage market, which is currently estimated to have a market size of over Rs 2 lakh crore, is expected to touch Rs 3.80 lakh crore by 2017.
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