NEW YORK (Reuters) – New York-based Kohlberg Kravis Roberts & Co (KKR.AS) is leading a consortium planning to invest a total of around 10 billion rupees ($219.5 million) in India’s Coffee Day Resorts, owner of coffee chain Cafe Coffee Day, according to a source close to the deal.
KKR, Standard Chartered Private Equity and New Silk Route are to invest in the privately held company, which has about 900 cafes in India, according to the source. The investors will end up with about a 20 percent stake under the proposed investment, the source said.
Coffee Day Resorts, controlled by entrepreneur VG Siddhartha, also owns a resorts business. The company could not immediately be reached for contact.
The Cafe Coffee Day chain opened its first cafe in 1996 in Bangalore. It also sells sandwiches, salads and doughnuts, according to its website.
KKR has other investments in India, notably telecommunications firm Bharti.
India’s The Economic Times reported the potential investment earlier on Monday. (Reporting by Megan Davies; Editing by Richard Chang)