One of the biggest snacks and sweets retailer Haldiram Snacks Pvt. Ltd. is in its advance stage of discussion about investing in Bengaluru based Frozen Bottle, a quick-service restaurant (QSR) chain that sells milkshakes and desserts. Reports Livemint. Haldiram, founded in the year 1937 and largely remained in the mass retail space, is looking to invest between $8 million and $10 million into Frozen Bottle.
The traditional snacks maker, which reportedly breached Rs 5,000 crore mark in revenues in 2018, has also been eyeing startups in the packaged consumer goods segment, as well as a bunch of technology brands. Frozen Bottle was founded in early 2017 by Pranshul Yadav and Arun Suvarna.
According to a report by web portal YourStory last month, Frozen Bottle had crossed Rs 40 crore in annual revenue and currently operates 140 stores across 18 cities, including Bengaluru, Mumbai, Chennai, Delhi, Pune, Surat, Manipal, Kochi and Coimbatore.
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