KKR Invests in Rebel Foods, Valuing the Cloud Kitchen Giant at Approximately $800 Million
Rebel Foods, the parent company of beloved brands like Faasos, Behrouz Biryani, Oven Story Pizza, and The Good Bowl, has received a strategic investment from private equity giant KKR. The investment, made through a secondary share purchase transaction, values the Mumbai-based cloud kitchen operator at approximately $750-$800 million. This funding comes as part of a broader financing round that also includes a $210 million investment led by Singapore’s sovereign fund Temasek.
The latest financing round reflects a mix of secondary share sales and primary funding, with the latter executed at a flat valuation of $1.4 billion. Notably, the secondary transaction’s valuation represents a steep 50% discount, a reflection of current market conditions. Existing investors such as Coatue, Lightbox, and Evolvence also participated in this round by partially selling their stakes.
Rebel Foods, founded in 2011 by Jaydeep Barman and Kallol Banerjee, operates more than 450 cloud kitchens across 70 cities in India and has expanded internationally to markets like the UAE and the UK. The company’s cutting-edge approach blends technology-powered efficiency with a diverse range of brands tailored to meet various consumer preferences. Beyond its cloud kitchens, Rebel Foods also manages offline outlets under the EatSure brand and holds the master franchise rights for Wendy’s India.
Jaydeep Barman, co-founder and CEO of Rebel Foods, expressed excitement about the collaboration with KKR, stating, “Their investment reflects confidence in our journey to strengthen our platform, grow our brand portfolio, and achieve excellence in global operations. We look forward to leveraging KKR’s expertise to supercharge our growth while focusing on innovation and sustainability,” he said.
This investment aligns with the growing interest in the cloud kitchen sector, which has been expanding at a remarkable rate. According to the National Restaurant Association of India, the sector is projected to grow at 35.2% annually over the next four years, outpacing traditional dining formats such as quick-service restaurants and fine dining establishments.
As Rebel Foods prepares for a potential initial public offering by 2026, this funding round will be pivotal in strengthening its platform, scaling operations, and meeting the evolving demands of consumers worldwide.
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Keywords: KKR investment, Rebel Foods, cloud kitchen brands, Faasos, Behrouz Biryani, Oven Story Pizza, The Good Bowl, EatSure, Wendy’s India, private equity, $800 million valuation, secondary share purchase, primary funding, Temasek investment, Jaydeep Barman, Kallol Banerjee, operational excellence, innovation, sustainability, global expansion, National Restaurant Association of India, 35.2% growth, IPO by 2026.
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