Adyar Ananda Bhavan (A2B) and Bodhi Tree Systems, the platform of James Murdoch's Lupa Systems and Uday Shankar, today announced a strategic partnership to build a global champion in Indian food.
A2B is one of South India's leading food brands for casual dining and packaged South Indian sweets and savouries. Today it has a strong foothold in Tamil Nadu and Karnataka and a growing presence across India, with 160 outlets domestically, over 30 internationally, and more than 15,000 employees. Few brands in South Indian cuisine command the depth of consumer trust, widespread affection and enduring popularity that A2B has built over generations.
The investment further reinforces Bodhi Tree's strategy of building and operating category-leading businesses that combine strong consumer brands, disruptive technology and the ability to serve Indian consumers at scale.
“A2B has earned the trust of millions of families through its consistent and reliable quality,” said James Murdoch and Uday Shankar, co-founders of Bodhi Tree Systems. “We are grateful to the co-founders, K.T. Srinivasa Raja and K.T. Venkatesan, for this opportunity to partner with them to build a differentiated, professionally managed Indian food company, one that sets new standards for the sector. While A2B is a formidable brand in India, we are equally impressed by the scale and reach of its operations in Singapore, the United States, Australia, Malaysia, and the UK. We look forward to working with the team to take its authentic cuisine to a far broader global audience.”
Uday Shankar will serve as Chairperson of A2B's new Board of Directors.
“What began as a sweet shop started by my brother and me 50 years ago is now part of daily life for millions of families, and we are proud of every one of our people who made that possible,” said K.T. Srinivasa Raja, Co-Founder, A2B. “We are excited to begin this next chapter with Bodhi Tree. The plan we have built together will make A2B a company fit for the public markets, so that our customers, employees and investors can share in its future.”
K.T. Venkatesan, Co-Founder, A2B, said: “We are delighted to welcome Bodhi Tree as our partner. James and Uday bring deep experience in building consumer businesses at scale. Together, we look forward to creating new opportunities for our people and taking A2B into many more homes.”
A2B is Bodhi Tree's third investment, after ALLEN Career Institute and JioStar. Bodhi Tree partners with businesses that create enduring social value. It seeks out companies on an assured footing in consumer sectors at an inflexion point and works alongside their teams, building on the values and culture that got them there, to achieve a generational leap for the company and its sector.
The partnership will focus on strengthening A2B's leadership and talent, building digital capability, modernising its kitchens and manufacturing to global standards, expanding its range of healthy and nutritious food, and growing its restaurants and packaged foods across India and in international markets.
Veda Corporate Advisors acted as exclusive financial advisor to A2B.
Khaitan & Co acted as legal advisor to A2B.
Ernst & Young provided financial and tax due diligence services to Bodhi Tree Systems.
Alvarez & Marsal provided commercial due diligence services to Bodhi Tree Systems.
Trilegal acted as legal advisor to Bodhi Tree Systems.
Moelis & Company acted as transaction advisor to Bodhi Tree Systems.
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