Navis Capital Partners buys a majority stake in Nirula’s

Navis Capital Partners buys a majority stake in Nirula’s

People living in Delhi would have some lovely memories of Nirula’s. The 72-year-old fast-food chain was the place to go when we did not have access to McDonalds, Pizza Hut and other multi-national eating joints in our localities.

Nirula’s now has a new owner as Malaysian firm Navis Capital Partners has now bought a majority stake in the food chain. The deal is worth around Rs 90 crore and they would continue with this huge brand name for the Indian market.

The company has already announced the appointment of Samir Kukreja as the new managing director of the company. He is a relative of former owners Lalit and Deepak Nirula and has more than 17 years’ experience in hotel and restaurant industry.

Gurdeep Singh, the corporate communications head of Nirula’s added the company’s view on this new development: “Samir Kukreja is now the MD and he holds a minor share in its stocks. The focus of the transfer in ownership is “to strengthen the brand name”. From now on, the emphasis will be on becoming a national brand by opening more outlets nation wide. Changes will be introduced gradually to improve the standing and brand value of Nirula’s.”