Karan Tanna-led Yellow Tie Hospitality, the leading food and beverage franchise management company, has acquired casual dining brand Bombay Blues from Blue Foods owned by Everstone Capital for an undisclosed amount.
Blue Foods is one of the leading players in the organized F&B retail business in India with more than 130 outlets in 10 cities across the country. Blue Foods has a portfolio of strong brands in different cuisines across various formats. The brands operated by the company include Spaghetti Kitchen, Copper Chimney, Gelato Italiano, The Coffee Bean & Tea Leaf, Bombay Blues, Noodle Brand spoon.
Blue Foods owned brand Bombay Blues, is a multi-cuisine full service casual dining restaurant which has a diverse menu and has created a niche for lifestyle, It has a diverse menu consisting of Indian, Italian, Mexican, Lebanese cuisine among other. Bombay Blues is a fast-casual bistro is the fastest growing segment in casual format.
Yellow Tie Hospitality plans to revamp the brand to make it more relevant to the competition and customer experience and then relaunch it in a fast-casual family dining format.
The revamped Bombay Blues will be part of Yellow Tie’s incubation program, launched last year that house quick-service restaurant brands including Umraan and Wok This Way in which Yellow Tie Hospitality acquired controlling stakes.
Karan Tanna, Founder, Yellow Tie Hospitality said “We have acquired the Intellectual Property Rights for Bombay Blues as we found that this brand has huge potential in India. Bombay Blues fits into the current portfolio of Yellow Tie- as a casual dining bistro brand, which echoes with millennials in terms of its menu and appeal. Fine and casual dining restaurants are the ones which have elaborate menus and take pains over garnishing and quality of service, usually serving liquor as well and they are much more capital intensive”
“We will focus on tier-two and tier-three cities and planning to add 5 outlets in 2019 and 10 and 15 outlets each in the year 2020 and 2021 respectively and hope to be operating 100 outlets of Bombay Blues by 2025 on a per-store investment of Rs 1.5 crore and Rs 8 to 10 crore will be invested on backend infrastructure,” he added.