Hyderabad :

City-based startup Aadya Restaurants, that runs the food chain ‘Dosa Place’, on Wednesday announced that it has acquired 91% stake in another Hyderabad-based food company Sukashree Agro Foods for an undisclosed amount.

Sukashree Agro Foods owns the `Chennai Chef’ brand, which retails food products such as idly and dosa batters, sambar and rasam powders, among others.

Commenting on the development, Ajay Koneru, founder and director of Aadya Restaurants said, “We found great synergy in `Chennai Chef’. This acquisition will help us spread our wings into the retail business too.”

Aadya Restaurants currently operates four food trucks under the brand ‘Dosa Place’ and one Quick Service Restaurant (QSR). Koneru said the company plans to open 36 QSR outlets pan India over the next 18 months.

“We are getting into the QSR segment with the brand TIDC — `The Indian Dosa Company’. Our plan is to have a presence in at least five states in the next one year. All the cities will have `Chennai Chef’ factories, `Dosa Place’ trucks and TIDC QSR outlets,” he explained.

The company also plans to raise Rs 12 crore to fund its expansion plans in the coming days, he added. Aadya Restaurants currently has over 35 employees, including chefs, cooks, food servers, managers and quality maintenance staff.

source: http://www.timesofindia.indiatimes.com / The Times of India / News Home> City> Hyderabad / by Swati Rathor / July 06th, 2016