New Delhi, Dec 27 (PTI) Rabobank sponsored private equity (PE) fund has picked up stake in Olive Bar & Kitchen Private Ltd for an undisclosed amount.
India Agri Business Fund II became significant investor in Olive by buying stake from Aditya Birla Private Equity along with a few other selling shareholders.
The investment is entirely secondary as the Olive groups growth plans are funded by its strong accruals, the fund house said in a statement.
The deal offers an opportunity for Rabo Fund to acquire stake in food services company Olive Bar & Kitchen Private with 33 outlets and revenues around Rs 200 crore.
"The company is known to be backed by a robust back end infrastructure, good internal controls and rigorous Corporate Governance practices...We see Olive as a great opportunity for scaling up our exposure in food services," Rabo Equity Advisors Chairman Rajesh Srivastava said.
This happens to be the first investment in the food services sector by a Rabo Fund in 8 years.
Rabobank which operates on cooperative principles is based out of the Netherlands. PTI DP MR