Speciality Restaurants has executed a Business Transfer Agreement (BTA) on February 10, 2025, with M/s. Brydan Foods for the acquisition of their restaurant and cloud kitchen business, respectively, as a going concern on ‘slump sale basis’, in Chennai, Tamil Nadu (collectively known as Business Undertaking).
The acquisition aligns with the Company’s strategic goal of strengthening its presence in the restaurant industry, further it will help the Company to expand the current offerings in the city of Chennai.
This acquisition is expected to be completed on or before April 11, 2025 (or such later date the parties may mutually agree upon) and is subject to fulfilment of condition precedents as agreed between the parties and receipt of requisite approvals / consents, if any. The aggregate lump-sum purchase consideration for business (cash) is Rs 2.3 crore, subject to adjustments, if any.
Speciality Restaurants is primarily engaged in the business of operating restaurant outlets / sweet shops.
