Acquisition · Commerce & Consumer Brands

Curefoods buys Krispy Kreme's India operations

By Startup Enthusiast · 31 December 2024

What they do

Curefoods runs multiple food brands from shared cloud kitchens across 40 Indian cities

It acquired the South and West India operations of Krispy Kreme from Landmark Group in a cash-and-equity deal

Landmark Hospitality also invested an undisclosed amount in Curefoods' recent $40 million fundraise

Curefoods has acquired the South and West India operations of Krispy Kreme from Landmark Group.
The deal is a mix of cash and equity; Curefoods gave money and shares to Landmark Group.
As part of the deal, Landmark Hospitality Services invested an undisclosed amount in Curefoods' recent $40 million fundraise.
Curefoods signed a multi-year franchising agreement with Krispy Kreme Doughnut Corporation to develop over 350 additional points of access in India over the next 5 years.
Krispy Kreme currently has over 50 touchpoints under Curefoods.
Curefoods expects Krispy Kreme revenue of Rs 100 crore in 2025.
Curefoods plans to integrate Krispy Kreme into its cloud kitchen network and increase its online footprint on Swiggy and Zomato.
Curefoods is in discussions to expand Krispy Kreme operations to North and East India.

The acquisition strengthens Curefoods' brand portfolio, which already includes Eatfit, Sharief Bhai, Olio Pizza, Arambam, Nomad Pizza, CakeZone, and Frozen Bottle.
Curefoods competes with Rebel Foods, Biryani by Kilo, and EatClub (formerly Box8).
The deal gives Curefoods a global brand with a loyal customer base and a ready franchise network.
Binny Bansal backs Curefoods, indicating strong investor confidence.

Curefoods is a Bengaluru-headquartered house of food brands, founded in 2020.
It uses a house-of-brands model: multiple distinct brands run from shared cloud kitchen infrastructure.
Its brand portfolio includes Eatfit, Sharief Bhai, Olio Pizza, Arambam, Nomad Pizza, CakeZone, Frozen Bottle, and Krispy Kreme.
Curefoods operates over 10 cuisines across 40 cities in India.
It has over 500 cloud kitchens and offline stores.
Its brands are listed on Swiggy and Zomato; some have dedicated apps and dine-in stores.
Curefoods targets 1,000 offline and cloud kitchen locations for its portfolio by end of 2025.
It allocates Rs 60-70 crore annually over the next two to three years for offline expansion.

Integrate Krispy Kreme into its cloud kitchen network and increase online footprint on Swiggy and Zomato.
Expand presence across tier 2 and 3 cities in India.
Expand homegrown brands internationally: Sharief Bhai debuted in the Middle East, Olio Pizza to Dubai and Abu Dhabi.
In discussions to expand Krispy Kreme operations to North and East India.

Landmark Hospitality Services (participated) — Invested an undisclosed amount in Curefoods' recent $40 million fundraise as part of the deal.
Binny Bansal (existing) — Backs Curefoods.

Product: cloud kitchen firm
Customers: Consumers ordering prepared food through delivery and dining channels.
How it makes money: Sells branded food through its kitchen and delivery network.
What sets it apart: Portfolio across multiple popular food brands and formats.