Reliance Retail joined hands with a UK-based company for quick service restaurant and the chain to be called Chicken came First Reliance Industries plans to run an exclusive chicken restaurant chain in India in partnership with a UK-based company as he seeks a bite of the quick service restaurant (QSR) pie, which is pegged to grow at 30% per annum. The chain, to be called Chicken came First will directly compete with KFC (Kentucky Fried Chicken), the worlds most popular chicken restaurant chain. RIL has picked up a 45% equity stake in Two Sisters Foods India (TSFI), which belongs to 2 Sisters Food Group (2SFG). 2SFG, the third largest food company in UK, supplies poultry, red meat, fish, and bakery and chilled/frozen products to the retail, food service and food manufacturing sectors. RIL has picked up the stake through Reliance Retail for an undisclosed sum. Two Sisters Foods India (TSFI), in which RIL has taken a 45% stake, will supply chilled and frozen foods at its food & grocery outlets to begin with. It will later tap the Rs 7,000 crore food services market by setting up its Chicken came First (CCF) chain of restaurants.
Posted on: Wed, 23 Oct 2013 05:09:10 +0000
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