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Blackstone Acquires Cafe Coffee Day Tech Park For up to Rs 3,000 cr

15Aug By PriyankaNo Comments

ACQUISITION

Blackstone Acquires Cafe Coffee Day Tech Park For up to Rs 3,000 cr

India's leading Coffee chain operator Coffee Day Enterprises announced sale of its Global Village Tech Park in Bengaluru to Blackstone for up to Rs 3,000 crore to cut its debt. The announcement comes weeks after Coffee Day Enterprises founder V G Siddhartha allegedly committed suicide. In a letter purportedly written by him, Siddhartha mentioned severe financial stress being faced by his group firms, among other issues. "The Board of Directors of the company...discussed methods of deleveraging the group. Towards the objective of deleveraging the board discussed and approved the disinvestment of Global Village Tech Park in its subsidiary, Tanglin Developments Ltd, in favour of Blackstone," Coffee Day Enterprises said in a BSE filing. "The transaction valuation is about Rs 2600-3000...

India’s leading Coffee Chain Cafe Coffee Day founder dead body found

31Jul By AnkitaNo Comments

News

India’s leading Coffee Chain Cafe Coffee Day founder dead body found

The dead body of Cafe Coffee Day founder V G Siddhartha, who went missing, was found on Wednesday in the Netravati river in Dakshina Kannada district of Karnataka after 36 hours of intense search, officials said. The body had washed ashore near Ullal and was fished out by local fishermen. Founder friends and relatives have confirmed that the body is of Siddhartha. Earlier, police said the body, which appeared to be of Siddhartha, was yet to be identified by his family. "A body has been found, which appears to be of him. Final confirmation has to be done by the family," deputy commissioner of Dakshina Kannada district Sasikanth Senthil told. Mangalore Commissioner of Police Sandeep Patil said the body has been kept at Wenlock Hospital for further formalities. Siddhartha, the ...

Cafe Coffee Day founder goes missing, Commits Suicide

30Jul By AnkitaNo Comments

News

Cafe Coffee Day founder goes missing, Commits Suicide

Cafe Coffee Day founder V G Siddhartha was reported to have gone missing after he left from Bengaluru on Monday night, police said. Siddhartha, the son-in-law of former Karnataka chief minister S M Krishna, was headed for Sakaleshpur but on the way, he had asked his driver to go towards Mangaluru, according to the police. On reaching a bridge over the Netravati river in the Kotepura area in Dakshina Kannada district, he got down from the car and told his driver that he was going for a walk. "He (Siddhartha) asked the driver to wait until his arrival. When he did not return even after two hours, the driver approached the police and lodged a missing complaint," deputy commissioner of Dakshina Kannada district Senthil Sasikant Senthil told Pixr8 News. More than 200 policemen and d...

CCD and Uber Eats Partner to Launch Virtual Restaurant Chain in India

26Oct By Gauri SinghNo Comments

News

CCD and Uber Eats Partner to Launch Virtual Restaurant Chain in India

Food delivery major Uber Eats has entered into an association with cafe chain Café Coffee Day (CCD) to launch a network of virtual restaurants across multiple brands. These will be available for delivery exclusively on Uber Eats. In this partnership, Uber Eats will share data, analytics and insights with CCD to help the latter identify food that is most desired and thus design cuisine-specific menus under various brands that will be separate from its existing menu and available for delivery only. This partnership will allow Café Coffee Day and Uber Eats to launch menu offerings as per evolving consumer trends, for multiple ‘delivery-only’ virtual restaurants. Bhavik Rathod, Head of UberEats in India and South Asia on the partnership said, “The virtual restaurant model will use the exis...

Starbucks Plans to Expand Smaller Indian Cities from Next Fiscal

27Jul By Gauri SinghNo Comments

News

Starbucks Plans to Expand Smaller Indian Cities from Next Fiscal

The popular coffeehouse chain Starbucks which is a joint venture between Tata Global Beverages and Starbucks Corp. is planning to expand in smaller Indian cities with a population of less than 5 million. It plans to open more outlets in the next fiscal year. Starbucks has a long-term goal of making India among its top five markets and this move seems to be a part of the strategy. Currently, Starbucks has 120 stores in India which is fewer than most of the 27 countries where it operates. In its home country the US, Starbucks at present has a maximum number of outlets. Apart from this, the company has its presence in China, Canada, Japan and the UK as well. It was the last fiscal year that Starbucks opened 25 new stores in India. “We are happy with the growth we are witnessing in Ind...

Coffee Day Enterprises Unit Sical Logistics to raise Rs 100 cr

11Jun By NitishNo Comments

FUNDING

Coffee Day Enterprises Unit Sical Logistics to raise Rs 100 cr

Coffee Day Enterprises, which runs coffee chain under brand Cafe Coffee Day, today said its subsidiary Sical Logistics plans to raise Rs 100 crore through issuance of non convertible debentures (NCDs) on private placement basis. "The companys subsidiary Sical Logistics Ltd at their Board meeting have approved the proposal to raise a fund of Rs 100 crore by way of issue of secured non convertible debentures on private placement basis," Coffee Day Enterprises said in a BSE filing. The company said it will utilise the proceeds of funds raised for redemption of an existing NCDs of Kotak Mahindra Bank. "Kotak Mahindra Bank, the present holders of 12.75 per cent secured non convertible debentures of Rs 100 crore issued by our subsidiary company in 2013 through the IDBI Trusteeship commu...