Aditya Birla PE to invest Rs 50 cr in Olive Bar & Kitchen

Aditya Birla Private Equity, a part of the Aditya Birla Financial Services Group, today said it has invested in the hospitality firm Olive Bar & Kitchen.

Though the amount of investment is not known, sources in the industry said it is likely to be about $10-15 million (Rs 50-75 crore). As per the company, the money has been invested from the Sunrise Fund of the PE firm, which has the provision for infusing growth capital into proven businesses.

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Centrum Capital acted as the sole financial advisor to Olive Bar & Kitchen, a release said. “We intend to leverage our brand equity created over the years to expand the reach of existing formats and launch new formats,” Olive Bar Managing Director A D Singh said.

On the investment, Aditya Birla Capital Advisors chief executive Bharat Banka said the PE firm would contribute to the future growth plan of the hospitality company.

PTI