L Catterton, the largest global consumer-focused investment firm, today announced that it has entered into a definitive agreement to invest in Nandhana Foods, a leading restaurant group specialising in South Indian cuisine. The investment will support Nandhana Foods’ next phase of growth, while leveraging L Catterton’s industry expertise and operating capabilities to help the business achieve greater scale.
South Indian cuisine is one of the largest segments of India’s growing food services market. Rising per capita spending on dining out and food delivery, along with an increase in consumption occasions, is expected to support continued growth in the segment.
For more than three decades, Nandhana Foods has served authentic South Indian cuisine, with a focus on taste, authenticity, food quality, freshness and menu variety. Its distinctive and customisable spice profile has also helped the brand build a loyal customer base.
“Nandhana Foods’ founding family has built a distinctive and scalable business with a strong consumer proposition and attractive unit economics. It has expanded the business in a disciplined manner and ensured that its restaurants remain anchored in high quality and consistency. We believe there is significant headroom for additional growth by further deepening and broadening its presence in South India and penetrating other markets. There is a clear path for prudently ramping up expansion, and we look forward to working closely with the founding family to drive continued growth,” said Vikram Kumaraswamy, Partner, L Catterton.
“We are pleased to partner with L Catterton, which has a track record of creating value for its portfolio companies across the world. The firm has a profound grasp of our organizational DNA and an intricate understanding of the restaurant industry. We are excited about tapping into its astute insights and proven know-how to strengthen our operations in line with our commitment to providing high-quality food and service to our customers,” said Dr R. Ravichandar, Founder and Managing Director, Nandhana Foods.
