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Singapore based Food Empire Group has acquired an 80 per cent stake in Positive Food Ventures’ iced tea brand Brewhouse.
This 4 crore acquisition will enable the Food Empire Group to enter the Indian market through the iced tea market and also bring in its own products across beverages, finger foods, snack foods and more.
The 7 month old Delhi-based company is looking to use the capital to increase its production capacity and expand its geographical reach.
Brewhouse which is backed by Dheeraj Jain of Redcliffe Capital, offers 3 variants of iced teas, having sold 70,000 bottles across various QSR outlets in and around Delhi since its launch.
With the new production centres helping to boost volumes, Brewhouse is looking to widen its reach across the Quick Service Restaurant chain in newer markets while also enable sales through online e-commerce marketplaces starting February.
The Food Empire Group first entered India in 2012-13 with a $30 million greenfield investment in an instant coffee plant in Andhra Pradesh, a 100 per cent export oriented unit.