Curefoods Increases its Presence in India by Acquiring Krispy Kreme

The well-known international doughnut and coffee brand Krispy Kreme's businesses in South and West India have been formally acquired by Curefoods, a F&B house of brands, from Landmark Group. Prior to its expected fundraising round, Curefoods was reportedly in talks with Landmark Group in October to obtain the rights to market Krispy Kreme in India. Landmark Group previously oversaw Krispy Kreme's operations in South India, which included about 50 points of access throughout the nation. Through the utilisation of Krispy Kreme's existing clientele and operational framework, this acquisition will accelerate Curefoods' expansion. As part of the deal, Landmark Hospitality Services Limited will also purchase stock in Curefoods India.

Expanding Operations Beyond Cloud Kitchen

It gives Curefoods great pleasure to introduce Krispy Kreme. The company's objective of providing a variety of excellent culinary experiences is well aligned with its global reputation and great customer appeal. Ankit Nagori, founder of Curefoods, stated that this collaboration demonstrates the company's dedication to diversifying into markets outside of its cloud kitchen ecosystem and investing in popular brands to increase its market share in India's food industry.

Curefoods was founded in 2020 and is already well-known for its wide range of products, which include EatFit, Sharief Bhai, Nomad Pizza, and Olio Pizza. "Together with Krispy Kreme Doughnut Corporation, we have developed a successful business that is expanding." K A Madappa, President of Citymax Hotels Pvt Ltd and Business Head of Krispy Kreme, stated, "We are thrilled to see it join the Curefoods portfolio, where we are confident it will continue to grow significantly in the years to come." Throughout the whole transaction, Metta Capital served as Landmark Group's advisor. 

Expansion Plans of Curefoods

By 2025, Curefoods intends to open 25 physical Krispy Kreme locations and 100 more cloud kitchens. Currently, the company has more than 50 locations across Bengaluru, Hyderabad, and Chennai.

Curefoods is looking to expand its domestic brands into foreign markets in addition to Krispy Kreme. Recently, Sharief Bhai made its debut in the Middle East. The firm intends to bring its pizza brand, Olio, to Abu Dhabi and Dubai.

Additionally, Curefoods intends to increase its footprint in India's tier 2 and tier 3 cities. The company's plan, according to Nagori, is to keep expanding into tier 2 and tier 3 cities. Currently, all brands are present in about 40 cities, and by the end of 2025, the company hopes to be present in 60.

Curefoods has set aside INR 60-70 crore a year for offline expansion over the next two to three years in order to meet its growth ambitions, which include a balanced mix of 1,000 offline and cloud kitchen locations for its portfolio by the end of 2025.

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