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Everstone Capital may sell its 45% stake in JS Hospitality

Everstone Capital is seeking for an opportunity to sell its 47% stake in JS Hospitality.
BY BEx Bureau
BusinessEx
Aug 22, 2017

PE firm is expecting to get twice or more from the sale of its five-year-old investment. In January, 2012 the firm acquired the stake in JS Hospitality which operates 35 Pind Baluchi restaurant chain and also owns the Vatika Grand Group of Hotels.

Everstone is shifting its investments towards FB sector and puts the hold on 45% in Pind Balluchi Company under its flagship FB investment vehicle, FB Asia.

The firm owns Burger King India and Indonesia, Modern Foods that it acquired from FMCG major Unilever India, Harrys, the Disgruntled Chef, Pan India Food Solutions (also known as Blue Foods), Massive Restaurants, besides the franchise of Dominos in Indonesia.

From its FB vehicle, the fund has managed to invest more than 1,300 crores in the sector till date. The company has already exited its investment from Sula Wines and Capital Foods, making 3.1x and 2.4x returns on the investment.

Since the investment into JS Hospitality is almost five years old, the fund is now looking at cashing out. It is expected to make around 2-2.5 times returns on its investment in the company, said a spokesperson.

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