Impresario Entertainment and Hospitality Pvt Ltd, the Mumbai-headquartered company which runs a chain of fine-dining restaurants, has raised Rs.48 crore or $10.5 million from strategic investor Mirah Hospitality and Food Solutions Pvt Ltd and the existing financial investor Beacon India Private Equity.
Mirah Hospitality has made an investment of Rs.40 crore ($8.75million) while Beacon India has hiked its stake by investing Rs.8 crore.
Founded in 2001, by Riyaz Amlani, Impresario operates 27 restaurants across eight cities under various brands such as Smokehouse Grill, Cafe Mocha and Salt Water Cafe. The company also provides dessert and coffee solutions to the corporate segment.
In the current deal, Impresario Entertainment and Hospitality was advised by legal firm Trilegal and Mirah Group by Desai & Diwanji.
All the three parties refused to speak to Track2Realty saying the deal is yet to be completed.
The Rs.300 crore Mirah Group, which is a diversified business house with interests in real estate development, hospitality, travel, wind energy, computer education, textiles, corporate gifts and international trading, has been acquiring stakes in the restaurant space.
Last year, it acquired Encore Hotels, which owns Rajasthani food chain Khandani Rajdhani, and also acquired a 33 per cent stake in Pragati Ventures which runs a donuts chain called Mad Over Donuts. It had also acquired a Lebanese food chain Falafel. The group also runs other businesses like Citrus Hotels and Cafe Bar.
