Shilpa Shetty, Raj Kundra, buy 33% stake in £20m v8 gourmet group
August 27, 2009 8:03:41 PM IST
Bollywood Trade News Network
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Actress, Shilpa Shetty and her fiance, entrepreneur Raj Kundra on 24th August 2009 announced a 33% stake in V8 Gourmet Group. V8 is an international Indian food company valued at £20m and encompasses The Bombay Bicycle Club Kitchens, Tiffinbites, Vama and Gourmet Creations brands.
The £6m investment will be used to expand the company's successful Bombay Bicycle Club Kitchens delivery service which currently has 15 Delivery Kitchens in the UK. It will also enable the company to expand the Tiffinbites restaurants, concessions and franchises in London and abroad. Global expansion for V8 includes the opening of two Tiffinbites casual dining and shopping mall dining formats in Dubai (October 2009) and Jordan (March 2010).
Building on the success of the critically acclaimed Vama Restaurant in Chelsea, frequented by Gordon Ramsay and Jamie Oliver, the company also plans to open a second Vama Restaurant in Holland Park in London.
The investment will also see the launch of Ms Shetty's Gourmet Creations Range of premium authentic gourmet meals, chutneys and pickles. The range will initially be North Indian and will later offer tastes of Shilpa's mother tongue region.
Arjun Varma, Managing Director, V8 Gourmet Group said, ''In January 2009, we acquired the business of Gourmet Restaurant Group which comprises of Tiffinbites, The Bombay Bicycle Club Kitchens and Vama. This provides the group with an excellent platform towards its growth aspirations and gives V8 a clear lead in the Indian Food sector.
''Shilpa shares a genuine passion for fine Indian cuisine and is a perfect ambassador for V8 whilst Raj brings a wealth of international business expertise which will help us to achieve our ambitious growth plans in the UK and overseas.''
Ms Shetty said, ''I feel proud to be associated with the V8 Group. They have carved a niche for themselves in the Indian food industry in the last 13 years, and spell consistency, quality and authentic Indian food. I know that our partnership will grow and envisage a great future with a whole new line of products and restaurants all over Europe, Dubai and Jordan.''
Raj Kundra is CEO of Trade Essential Dubai an international trading company. A successful entrepreneur in his own right, Mr Kundra has a diverse portfolio of international investments and is also owner of a cricket team and concrete production company in the Ukraine.
(pic courtesy- Dabboo Ratnani)
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