Chicken Came First: RIL has procured a 45% stake in the JV, while a UK-based food-manufacturer 2SFG has 55% stake
New Delhi: Reliance Industries Chairman Mukesh Ambani is all set to compete with KFC (Kentucky Fried Chicken) by commencing his own chicken restaurant chain Chicken Came First (CCF) in India.
The Indian business magnate may be a vegetarian himself; the man knows how to separate business decisions from personal lifestyle. After tasting success in oil and petroleum business, the elder Ambani is all set to serve a rich taste to non-vegetarian Indians’ pallet.
If media reports are to be believed, Mukesh has collaborated with a UK-based chain quick service restaurant (QSR) pie. The restaurant is pegged to grow at an annual rate of 30%. RIL has hit the nail right on the head by making a perfect start in the food business.
First things first, for raw supplies, RIL has procured a stake of 45% equity shares in Two Sisters Foods India (TSFI) owned by UK company Two Sister Food Group (2SFG). 2SFG supplies poultry, red meat, fish, bakery and chilled/frozen products to the retail, food service and food manufacturing sectors. RIL has procured a 45% stake in the joint venture TFSI for an undisclosed amount. The rest 55% is owned by 2SGF.
Chicken Came First
Initially, TFSI will focus on running its food and grocery outlet retailing chilled and frozen food. As the JV settles, the two will plug into the restaurant business that may need initial spending worth Rs 7,000 crore. The restaurant chain will be christened Chicken Came First (CCF).
CCF plans to ensure rich taste specifically for Indian pallet. The detailed menu is planned to suit Indian taste. The company is working already to innovate rich recipes.
The other partner in the JV 2SFG is a UK based food-manufacturing company, founded by Ranjit Singh Boparan in 1993. The company is now the third largest food company in the UK by turnover and one of the fastest growing private companies. The group employs a work force of over 24,000 people.