OC&C advises on acquisition of Indian restaurant Chaiiwala
Indian restaurant chain Chaiiwala has partnered with investment company Lote Global, as it looks to expand internationally. The investor received buy-side support from professionals at OC&C Strategy Consultants.
Established in Leicester in 2015, Chaiiwala is a fusion restaurant which serves Indian street food with a Western twist. This is exemplified by a menu which includes ‘the English-ish breakfast’; masala chips; samosa chaat; and a selection of rotis and parathas. Store formats comprise of prime high street locations, small kiosks, retail park units, and most recently, a drive-thru at the firm’s Bolton premise.
Since its launch, Chaiiwala has grown fast. With a portfolio of 90 sites around the world, the brand intends to expand to 100 by the end of 2023 – including new hubs in the UAE and Canada. But to keep up the pace of this expansion, Chaiiwala needs help.
In the long term, Chaiiwala intends to grow to 500 sites around the world – with a coming growth drive planned across the US, Canada and the Middle East. To facilitate this, the group has attracted investment from Lote Capital – a strategic private equity partner also originating from Leicester, and focused specifically on sustainable growth for the firms it backs.
Speaking on the move, CEO Muhummed Ibrahim explained, “We are pleased to welcome Lote Global to the team… Collaborating with Lote, we believe we have found the ideal partner to expedite our vision of reaching 500 stores by 2026. We have already laid the groundwork for our expansion in these crucial markets and have confidence that our partners will help us seize the significant global opportunity that lies ahead.”
OC&C Strategy Consultants advised Lote Global on the deal. According to the firm, it is “a leading strategy consultancy in the retail, leisure and hospitality and food and beverage space, working with both major global corporations and local champions”.
A statement from the firm added, “Lote’s acquisition will allow the firm to support Chaiwala with its bold expansion plans. We wish Lote Global Investments and Chaiwala every success in continuing to delight foodies and tea and coffee connoisseurs across the globe.”
