TT&A advised Artal Asia Pte. Ltd. (of which Invus is the global investment advisor) in connection with minority equity investment of approximately INR 532 Crores in Popo Global Private Limited (“Popo Global”), a Bengaluru-headquartered leading restaurant company operating restaurants under the brands The Pizza Bakery, Paris Panini and Smash Guys. 

The deal is significant as it represents Popo Global’s first external institutional capital raise which has been until date largely bootstrapped operations, during which the operations grew from a single Pizza Bakery outlet in 2017 to approximately 40 outlets across three brands.  

This transaction brings together Artal Asia (an affiliate of Artal Group whose global portfolio includes CAVA, the leading Mediterranean fast-casual brand in the United States and whose India investments include Capital Foods, backed for over a decade before its INR 5,200 Cr acquisition by Tata Consumer Products) and Popo Global. 

TT&A Team: Gautam Saha – Joint Managing Partner, Sachin Mehta & Harshit Chandra – Partners; Sinjini Majumdar – Managing Associate; Kashish Singhal – Senior Associate and Sangita Sharma and Vedangshri Vijay – Associates