Curefoods takes over Krispy Kreme’s operations in South, West India

INDIA – The second largest cloud kitchen company in India, Curefoods has announced it has acquired the operations of doughnut and coffee brand Krispy Kreme in south and west India.

Curefoods has acquired Krispy Kreme’s South India operations from Landmark Group, which previously managed nearly 50 points of access in the region.

The acquisition is aimed at accelerating growth by leveraging Krispy Kreme’s established customer base and operational infrastructure.

As part of the transaction, Landmark Hospitality Services Limited will acquire a stake in Curefoods India. Financial terms of the deal remain undisclosed. 

The agreement is set to strengthen Curefoods’ portfolio and its presence in India’s food service market. Additionally, Curefoods has entered into a multi-year franchising agreement with Krispy Kreme Doughnut to develop over 350 additional points of access across India within the next five years. 

Ankit Nagori, Founder of Curefoods, highlighted the strategic alignment of Krispy Kreme’s global legacy with Curefoods’ vision of offering diverse, high-quality food experiences.

He emphasized that this partnership signifies Curefoods’ intent to expand beyond its cloud kitchen ecosystem and invest in well-established brands to enhance its market presence. 

Metta Capital acted as the advisor to Landmark Group throughout the transaction process. 

The integration of Krispy Kreme into Curefoods’ operations is expected to extend the doughnut brand’s reach into new regions across India.

This growth will be driven by Curefoods’ supply chain and operational efficiencies. Plans include integrating Krispy Kreme into Curefoods’ network of 300 cloud kitchens, opening standalone outlets, and scaling presence on delivery platforms such as Swiggy and Zomato. 

In August 2024, Curefoods’ pizza brand, Olio Pizza, revealed plans to expand to 500 locations via cloud kitchens and physical outlets.

The brand aims to become a INR 5 billion (US$58.2 million) business with operations in 60–70 cities across India by the end of 2026. 

The acquisition was officially announced in late October 2024. Sources indicate that Landmark Group may also participate in Curefoods’ ongoing US$40 million funding round.

Existing investor Chiratae Ventures has already committed approximately US$15 million, valuing Curefoods at around US$450–500 million. Flipkart Co-founder Binny Bansal, another existing investor, is also expected to contribute to the round.

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