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Lite Bite Foods Group, the food and beverage retail business led by Dabur Group chairman Amit Burman, plans to raise about Rs 250 crore funds from private equity firms and make its airport franchise business a separate entity.
The promoters are looking at diluting a minority stake in the retail foods business, which currently has an enterprise value of Rs 1,000-1,200 crore, said an official aware of the development.
“Lite Bite Foods proposes to induct a private equity player into the retail business and has mandated investment bank KPMG to look for investors. Both the retail foods and the airport businesses contribute equally to sales,” the official said.
Lite Bite Group is co-promoted by Burman and Rohit Aggarwal.
“We are looking forward to entering a new growth phase and see enormous potential to expand our overseas business,” Aggarwal said.