Cloud kitchen startup Curefoods has acquired the distribution rights for Krispy Kreme’s South and West India operations from the Landmark Group. This move is part of a larger strategic deal where Landmark Hospitality Services invested an undisclosed amount in Curefoods’ recent $40 million fundraising round.
Ankit Nagori, Founder and CEO of Curefoods, highlighted the significance of this acquisition, stating, “We have various categories and brands in Curefoods, but an international franchise was missing. Partnering with a globally recognized brand like Krispy Kreme allows us to leverage their established product development and branding expertise.”
Krispy Kreme, the iconic 87-year-old American doughnut and coffee brand, is currently operated in India by Citymax Hotels India, a Landmark Group subsidiary. With this acquisition, Curefoods aims to hit the Rs 100 crore revenue milestone for Krispy Kreme by 2025.
Curefoods plans to integrate Krispy Kreme into its extensive cloud kitchen network spanning over 300 locations and boost its online presence on delivery platforms like Swiggy and Zomato. Additionally, the company plans to establish 100 new cloud kitchens and 25 offline Krispy Kreme outlets by 2025. Currently, Krispy Kreme operates over 50 stores in Chennai, Hyderabad, and Bengaluru.
The company is also looking at international expansion for its homegrown brands. Its biryani brand Sharief Bhai recently entered the Middle East market, and pizza brand Olio is set to launch in Dubai and Abu Dhabi.
On the domestic front, Curefoods aims to expand its footprint across Tier 2 and Tier 3 cities, targeting operations in 60 cities by the end of 2025. With an annual investment of Rs 60-70 crore dedicated to offline expansion over the next two to three years, Curefoods is set to achieve a balanced mix of 1,000 offline and cloud kitchen locations by 2025.