Darby Overseas Investments, a private equity arm of Franklin Templeton Investment, has picked up a stake worth $25 million in Coffee Day, owned by Bengaluru-based Amalgamated Bean Coffee Trading Company Ltd (ABCTL).
Commenting on the developments, VG Siddhartha, chairman, ABCTL, said: “The funds will be used in expanding Coffee Day’s presence across India and in parts of Europe.”
Richard H Frank, Darby’s chief executive officer, said: “We are attracted to ABCTL because of its leadership position within India’s rapidly expanding consumer lifestyle segment and its strong execution capabilities.”
Coffee Day is one of the largest integrated coffee players in India, with operations including procurement, processing and retailing. The company also owns and operates coffee retail brand ‘Cafe Coffee Day’ in India.