TVS Shriram Growth Fund, the private equity fund jointly promoted by TVS Group and Shriram Transport Finance group, has invested $11 million in Om Pizzas and Eats Pvt Ltd, the pan-India franchisee for global brands such as Papa John's Pizza, Chili's Grill & Bar and The Great Kabab Factory.
Om Pizzas and Eats, promoted by Bahrain-based Jawad Business Group (JBG), is currently in an expansion mode and is expanding its network of outlets in India to enhance its market presence.
JBG chairman and chief executive Faisal Jawad said his group has worked closely with TVS Capital over the last few months.
"The brands in our portfolio in the form of Papa John's Pizza, Chili's Grill and Bar and The Great Kabab Factory have what it takes to be formidable players in the pizza and casual dining segments in India and TVS Capital's investment is very timely in terms of allowing us to capture the growing momentum in these segments," he said.
JBG has the franchise for several global restaurant and retail brands and operates more than 650 restaurant and retail outlets across the Gulf region.
TVS Capital chairman and managing director Gopal Srinivasan said the fund's focus was on consumption-driven opportunities.