Mid-size QSR, ice cream chains scout for buyers

PE interest, consumption boom driving funding rush in consumer brands

- Mansi Verma & Priyamvada C

It is a cracker of a time for the snacking and restaurant industry amid spiking private equity (PE) interest, an imminent consumption boom aided by the recent goods and services tax (GST) rate cuts and a continued early-stage funding rush into consumer brands, giving rise to a host of mid-sized brands in the market.

This is cooking up a recipe for more platform plays and inorganic growth opportunities, driving brands in the ₹100 crore revenue bracket to scout for buyers and unlock their next phase of scale.

Quick-service restaurant (QSR) chains Kitchen Garden and Burger Singh, ice-cream brand Noto, and restaurant chain Nandhana Palace, among others, are now on the block scouting for buyers, five people familiar with the matter told Mint.