According to a report in DNA by Sindhu Bhattacharya, India Hospitality Corp (IHC), which has made significant investments in hospitality and air catering businesses in India, has acquired the franchise for Pizza Hut brand for central India from its current owner for an undisclosed amount.
The transaction, which is yet to get approval from Pizza Hut’s parent company Yum Brands, could translate into a significant slice of business for IHC, since central India is under serviced and the existing franchisee (Entertainment World Developers or EWDPL) managed to open only an outlet each in Bhopal and Indore till now.
Ravi Deol, Managing Director and CEO, IHC, did not disclose the investment needed to acquire the Pizza Hut franchise for central India. Besides, IHC continues to hold talks with some of the most visible global food and hospitality brands that are eyeing entry into the Indian market. Though Deol did not confirm this, IHC has also been in talks with Starbucks for the world’s largest coffee chain brand to make another attempt at coming into India. |