Rebel Foods, a cloud kitchen business, has acquired a majority stake in the chocolate company Smoor.
Smoor was valued at moreover $50 million in the acquisition. The Thrasio-style business intends to spend $150 million on food brands and expand its portfolio in India.
As part of its aim to expand its portfolio of brands, cloud kitchen company Rebel Foods has purchased a majority position in Smoor, a luxury chocolate brand. Rebel Foods would not disclose the amount of the investment but stated it was worth more than $50 million to Smoor. Rebel Foods, a Thrasio-style firm, said in a statement that it wants to invest $150 million across food brands and scale its India portfolio.
Rebel Foods' investment will help Smoor extend its distribution network.
"Smoor will continue to develop its omnichannel distribution strategy by extending its physical customer experience centers in India's tier-1 cities and expanding its online presence across digital platforms," says the statement "in the opinion of Rebel Foods.
"The expansion will also include a fast-growing omnichannel presence in nine cities (including Mumbai, Pune, Hyderabad, Chennai, Bengaluru, New Delhi, Gurugram, Noida, and Faridabad), as well as a physical presence in nine cities (including Mumbai, Pune, Hyderabad, Chennai, Bengaluru, New Delhi, Gurugram, Noida, and Faridabad)." "It was also added. Smoor, which opened in 2015, sells cakes, chocolates, gift baskets, sweets, and beverages. Apart from selling its products through cafes, kiosks, direct-to-consumer channels, and e-commerce sites, the company has its own storefronts.
"With Rebel Foods' financing, we'll be able to penetrate the worldwide market even further, producing innovative and exciting confectionaries in a variety of styles."
Smoor's chief executive officer, Vimal Sharma, said, "We look forward to the growth that will emerge as a result of this development." To provide greater variety to consumers, cloud kitchen entrepreneurs in India are investing in or acquiring scalable brands. Rebel Foods wants to onboard 40 to 50 food companies through its Rebel Launcher program, which will include luxury north and south Indian cuisines, Indian sweets, and sandwiches.
Apart from India, the business intends to bring all of the Rebel Launcher brands to Indonesia, the United Arab Emirates (Dubai, Abu Dhabi, Sharjah), Singapore, the United Kingdom, Malaysia, Thailand, Hong Kong, the Philippines, and Bangladesh.
Rebel Foods, according to Raghav Joshi, co-founder, was an early adopter of the Thrasio-style food concept in India.
"Across food missions, our aim will remain on offering great quality brands to every neighborhood."
Faasos, Behrouz Biryani, Ovenstory Pizza, Mandarin Oak, Slay Coffee, Sweet Trut, and Wendy's are among the brands in Rebel's portfolio.
It has over 450 cloud kitchens in 70 cities across ten nations.