Lite Bite has also established a joint venture with the Eat Out Group, part of Spain's leading business house Agrolimen. The Eat Out Group is one of Europe's leading restaurant groups with over 600 restaurants. They own brands such as FrescCo, Pans&Company, Bocatta, and Fresh&Ready. Our venture will invest about Rs 50 crore to establish a chain of specialty restaurants in India and mark Eat Out's entry here.
The joint venture will initially focus on launching the 'FrescCo' concept in India. FrescCo is a restaurant chain with a distinct Mediterranean Europe heritage. It specializes in food like salads, pastas, pizzas and soups, in a casual-dining setting. What FrescCo offers is excellent value-for-money, thanks to its 'All You Can Eat' formula. The venture plans are to open at least 50 restaurants in 10 years, both in commercial malls, office complexes, high street and highways. In addition, we also plan to expand the brand portfolio of the Indian JV and establish additional international Eat Out concepts in India.
In addition to these strategic alliances, we are in the advanced stages of finalizing tie-ups with a number of leading local and international brands, which we will announce shortly.
Sign up for Computerworld eNewsletters.