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March 28, 2015 7:18 AM ET

Hotels, Restaurants and Leisure

Company Overview of India Hospitality Corp.

Company Overview

India Hospitality Corp. operates as a diversified pan-Indian hospitality and leisure company in India. Its Hotels division owns and operates the Gordon House Hotel, a boutique four-star hotel located in Mumbai. It primarily owns and operates a 29-room hotel in south Mumbai; and operates a 30-room hotel in Pune under a management contract. The company’s Food Services division operates Birdy’s chain of cake and savory retail outlets. It also operates fast food and food court formats under the Dosa Diner and Roti names; casual dining formats under the China Joe, Just Around The Corner, and Pizzeria & Pasta Bar names; and gourmet dining formats under the Tendulkar’s, Not Just Jazz By The Way, an...

89 Nexus Way

Camana Bay,  KY1-9007

Cayman Islands

Key Executives for India Hospitality Corp.

Chief Executive Officer, Managing Director, Director and Member of Executive Committee
Chief Financial Officer
Chief Operating Officer, Executive Director and Member of Executive Committee
Non Executive Director and Chairman of Audit Committee
Age: 50
Compensation as of Fiscal Year 2014.

India Hospitality Corp. Key Developments

Barista Coffee And IHC's Talks Reportedly Ended

The talks between Barista Coffee Company Limited of Luigi Lavazza S.p.A. and India Hospitality Corp. (IHC) have ended without an agreement, dealing a blow to Luigi Lavazza S.p.A.'s efforts to find a buyer for the coffee chain, an official aware of the development said. "The exclusivity term of the due diligence (for India Hospitality Corp) has lapsed," the official said requesting not to be named. Lavazza has now constituted a new M&A team to drive the process of selling Barista that currently operates 180 stores across the country, the person said. We have no comments to offer," a Barista Lavazza spokesperson said in response to an Economic Times query. IHC chairman Ravi Deol said his company had no interest in Barista. "We don't believe in the business," Economic Times reported.

IHC Reportedly In Talks To Acquire Barista

India Hospitality Corp. (IHC) is conducting a review of Barista Coffee Company Limited to its possible purchase from Luigi Lavazza S.p.A., according to two people familiar with the development. Ravi Deol of IHCsaid that that IHC is constantly looking for consumer-led investment opportunities in India, but he added, “Barista may not be one of them”. When asked whether this amounted to a denial that they were in talks, he texted back: “As I said we keep getting various proposals. There is no view on Barista yet.” “For Deol, the acquisition of Barista would give him access to a retail channel for his other business, Adelie Foods, through which he could also drive synergies and leverage both businesses. The hitch could be valuation,” said one of the persons cited above, a Barista insider, adding that Lavazza is keen to seal the deal by April. Lavazza wants to make sure that it doesn’t lose out on its investment. “Barista may have lost to competitors, but it still has brand equity... Their strategy is to at least recover their investments through the deal,” said one of the persons cited above.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
March 11, 2015
Adelie Foods Group Ltd
 

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