Hyderabad-based startup Aadya Restaurants’ Dosa Place has acquired Sukashree Agro Foods’s retail brand ChennaiChef for an undisclosed amount and will own 91 per cent in it, according to an announcement made recently.
Founder of Aadya Restaurants Ajay Koneru hopes to standardize the quality and taste of food across their restaurants and food trucks through this acquisition and also step into the world of retail.
“We want to become the McDonald’s of south Indian food,” said Koneru. “We found synergy in ChennaiChef and want to spread our wings into retail business, too.”
Aadya Restaurants will use ChennaiChef’s products to prepare the the food served at their quick service restaurants and food trucks through a centralised kitchen and also house those products for sale.
Currently only in Hyderabad, the startup plans to dot the Indian map with 36 quick service restaurants in 18 months – starting with Bengaluru. For the next 18 months of expansion, Koneru is looking to raise a fund of Rs 12-13 crore and is in talks with several parties.
“We are talking to two or three people to raise funds and looking at someone who is passionate about this field. But, it’s too early in the stage right now,” said Koneru.