Lite Bite Foods HMSHost commits Rs 100cr investment in travel food retail in India
In an endeavour to evolve the F&B industry in India, Lite Bite Foods one of the most dynamic and fastest growing company's with HMSHost, the world’s largest provider of food and beverage services will together bid to acquire the rights to launch and operate international and domestic F&B outlets at retail destinations like airport, train stations and highways across India.
While HMS will own 51% of the joint venture, LBF will own the remaining
49%. The association combines the global resources and expertise of
HMSHost and Lite Bite Foods.
The joint venture will operate under the name Lite Bite Foods HMSHost and will be based out of Gurgaon.
With HMS Host’s presence across the dynamic F&B markets in the world, it will bring tremendous opportunities for Lite Bite Foods to enter new markets.
Speaking on the occasion, Lite Bite Foods Chairman Amit Burman said: “Lite Bite Foods has in its fold a number of strong food retail brands like Baker's Street, Punjab Grill and FrescCo, and Autogrill is among the oldest and the leading F&B service provider for travellers across the globe. The new company has the combined value of Autogrill's international expertise and experience and Lite Bite Foods' extensive local market and cuisine knowledge and network of established outlets. This agreement represents each organization’s strong commitment to provide the best F&B retail experience to our consumers across all travel channels. Together, we will bring an exciting new force to the country's travel food retail industry and revolutionise this emerging channel.” The joint venture will operate under the name Lite Bite Foods HMSHost and will be based out of Gurgaon.
While HMS will own 51% of the joint venture, LBF will own the remaining 49%. The association combines the global resources and expertise of HMSHost and Lite Bite Foods.
The partnership will capitalize on the strong reputation HMSHost has developed as a leading provider of food and beverage services for travellers. Lite Bite Foods will use its expertise in operating outlets at Delhi & Mumbai airports and its robust presence across the country.
Further to this, Rohit Aggarwal, Director, Lite Bite Foods said, “Lite Bite Foods HMSHost proposes to acquire the rights to operate outlets at the Airports in India and neighboring countries, at these locations, we plan to increase the brand presence of all our brands at strategic locations.”
Sharad Sachdeva, CEO, Lite Bite Foods said, “With millions of passengers travelling annually, the transit hubs like Airports & Railway Station have become a strategic location for our brand’s presence. We are very excited about this JV and this association will definitely help extend our brand in neighboring countries as well.”
Walter Seib, CEO HMSHost International said that 50% of the world’s population
is in and around 5 hours of travelling distance from India, and that
presented an exciting opportunity for travel F&B retailers. He said
that the number of people using the F&B services at the airports,
highways, etc. is on a steady rise. “This partnership is an important
step forward in the strategy of expansion in emerging markets,
especially in Asia, which the Group has been adopting in recent years.
The know-how developed by us on an international level and Lite Bite
Foods’ knowledge of the Indian market will enable the two companies to
successfully expand in all the travel channels in the country,” Seib
said.
The JV company pins its hope in the modernisation steps taken by the new government at railway stations, airports, and the emerging opportunities along the national, and gated highways. With the deregulation of petroleum products, they also hope the fuel stations owned by the private companies like Reliance along key corridors coming back to action once again opening opportunities for food retail investors.
The JV company pins its hope in the modernisation steps taken by the new government at railway stations, airports, and the emerging opportunities along the national, and gated highways. With the deregulation of petroleum products, they also hope the fuel stations owned by the private companies like Reliance along key corridors coming back to action once again opening opportunities for food retail investors.
Pic credit : Google
Coverage by : Vickrham (vicky) TWCI -The Writers Collective of India
email : vickrham.m@gmail.com