Navis Capital Partners Buys Kuckreja’s Stake in Nirula’s (Asia)
Source: Economic Times
South and Southeast Asia-focused private equity investor Navis Capital Partners is now the sole owner of India-based fast food chain Nirula’s following the acquisition of co-owner Samir Kuckreja’s remaining stake in the company, which was estimated to be around 10 percent. Navis paid INR900 million (roughly US$19.7 million) for a majority stake in Nirula’s in 2006 and made a follow-on investment of INR300 million (US$6.8 million) in 2010 to support the company’s expansion. In addition to its namesake restaurants, Nirula’s operates a chain of casual dining outlets and two hotels.