Lite Bite Foods Group is looking to raise about Rs 250 crore funds from private equity firms. It eyes to make its airport franchise business a separate entity.
Lite Bite Foods is the food and beverage retail business led by Dabur Group Chairman Amit Burman. It is co-promoted by Burman and Rohit Aggarwal.
The group’s promoters are planning to dilute a minority stake in the retail foods business, which presently has an enterprise value of Rs 1,000-1,200 crore.
The official said, “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 airport businesses contribute equally to sales.”
Rohit Aggarwal stated, “We are looking forward to entering a new growth phase and see enormous potential to expand our overseas business.”
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