Speciality Restaurants’ wholly owned subsidiary -- Speciality Hospitality US, Inc., has entered joint venture agreement with Associated Hospitality & Developers LLC. The parties have agreed to setup, own and operate restaurants in United States of America under Foodland Ventures LLC.
Speciality Hospitality US, Inc. and Associated Hospitality & Developers LLC have agreed to subscribe to the equity share capital of Foodland Ventures LLC at par value of $1 each. Speciality Hospitality US, Inc. and Associated Hospitality & Developers LLC will hold 50.5% and 49.5% respectively, in Foodland Ventures LLC.
Speciality Restaurants focuses on providing the guests an affordable fine dining experience with quality food and service in a modern ambience. The company’s restaurants consist of different restaurant concepts and are located across India, particularly in the western region.
