Private equity firm New Silk Route has agreed to acquire a 51 per cent stake in Mumbai-based restaurant chain Moshe’s.
The New York-headquartered firm, which is focused on Asia, will support Moshe’s plans to expand its operations in India, said the Times of India, citing people directly involved in the matter.
The company currently operates ten cafes and restaurants under the Moshe’s brand.
Investment bank Lodha Capital Markets advised on the deal, which is currently being finalised, said the report.
Earlier this year it was reported that New Silk Route was looking to invest in Indian fast food chain Punjabi By Nature.
Last year the firm was reported to be looking at 74 per cent stake in the Indian arm of the Nando’s chicken restaurant chain, while earlier in 2012 it had picked up a controlling stake in Indian fast food chain Adiga’s.
Copyright © 2013 AltAssets