US based ice cream and QSR chain, Dairy Queen is looking
for a partner to foray into the Indian QSR market. The unit of Berkshire
Hathaway’s is planning to open its burger chain in the country.
The company was said to be in talks with Reliance Retail Limited for launching its dairy business in the country, however
the deal did not consummate.
Owned by Warren Buffet’s Berkshire, Dairy Queen has over
6000 restaurants in the United States, Canada and 18 other countries.
To start with, the Minneapolis based chain would be
looking at opening 100 burger stores in the space dominated by McDonalds in the
organized sector having a lion’s share of 75%. The unorganized sector accounts
for 40% sales of the total INR 1 Bn market.
This would be its second attempt after its 2011 effort
for the foray.
Dairy Queen joins other player including Burger King,
Fat Burger Carl's Jr, Wendy's and Johnny Rockets that are seeking to gain a
share of the country's QSR market pegged at INR 55 Bn in 2013.
Berkshire had acquired International Dairy Queen Inc.
for $585 Mn in cash and stock in 1997.
The Indian QSR business has been one of the active
sectors attracting a lot of PE/VC attention. Be it early stage or the ones in
their growth phase.
No comments:
Post a Comment