Mumbai: Private equity firm Siguler Guff has invested $40 million in Trimex Foods Pvt Ltd, the exclusive Indian franchise partner for global restaurant brands like Chili’s Grill & Bar, PAUL, and Cinnabon, the companies said in a statement on Wednesday.
The round marks Trimex’s first institutional capital raise and seeks to help accelerate the company’s pan-India expansion of its existing brand portfolio, as well as onboard new global brands.
The development comes at a time when India’s restaurant and QSR chains are seeing renewed investor activity, with several transactions having concluded in this space in recent months.
Burma Burma raised over ₹38 crore from existing investor Negen Capital and new investors Endurance Capital and Coheron Wealth in March. Burger Singh raised ₹82 crore in a round led by Artal Asia Pte Ltd alongside Negen Undiscovered Value Fund and Aurum Rising India Fund in March.
Founded in 2010, New Delhi-based Trimex operates over 50 restaurants and bakery-cafés across 13 cities in India and has nationwide rights for its global brand portfolio.
The company said its differentiated menu positioning, strong brand affinity, and disciplined approach to store operations have made it a preferred partner for global restaurant brands.
“Siguler Guff’s global expertise and their track record of partnering with consumer businesses in emerging markets make them a great partner for our next phase of growth,” Trimex Foods said in the statement.
The investment reflects Siguler Guff’s conviction in the long-term growth of India’s organized food services sector, which is expected to be one of the fastest-growing consumer segments in the country over the coming decade.
“India’s food services sector is undergoing a structural shift as consumers increasingly gravitate toward globally recognized dining experiences,” said Shaun Khubchandani, partner and co-portfolio manager, Siguler Guff.
“The platform built over the past fifteen years is notable, representing a scalable, multi-brand platform with industry-leading execution and a strong customer following,” he added.
Siguler Guff’s India team, which possesses tenured investing experience across the consumer and retail sectors through its existing portfolio, identified Trimex as a differentiated, founder-led platform with an ability to scale global brands in one of the world’s largest consumer markets. Some of the investment firm’s other investments in India include GlobalLogic, Baazar Kolkata, Solvd, Valliance.ai, Rajasthan Royals, and La Renon Healthcare.
Broadly, India’s food services market, valued at $80 billion in 2024, is set to grow at a compounded average growth rate of 10-11% through 2030, with the organized sector driving this expansion, according to a report by Redseer.
As consumer preferences evolve, the rise of online food delivery and organized dine-in establishments is reshaping the landscape, the consultancy firm noted.
