Banan buys out India Equity Partners from Sagar Ratna
Sagar Ratna founder Jayaram Banan has regained control of the restaurant chain by buying out stake held by private equity firm India Equity Partners for an undisclosed amount.
Sagar Ratna founder Jayaram Banan has regained control of the restaurant chain by buying out stake held by private equity firm India Equity Partners for an undisclosed amount.
He had sold 77 per cent stake in Sagar Ratna in 2011 to the PE firm for Rs 132 crore but retained 22.7 per cent.
JRB Group, the owner of the chain now plans to expand presence of the chain in India under various business models.
"We plan to open over 25 Sagar Ratna restaurants during the current financial year. They will be both company owned and under the franchise model," JRB Group Chairman Jayaram Banan told
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)