Artal Asia invests Rs 532 cr in The Pizza Bakery parent Popo Global

BENGALURU: Artal Asia has invested Rs 532 crore in Popo Global, the Bengaluru-based company behind The Pizza Bakery, Paris Panini and Smash Guys, for a significant minority stake.The deal comes as Popo Global prepares to expand beyond Bengaluru. The company has grown from one outlet in 2017 to 40 outlets across its three brands. It said this expansion had largely been funded internally.Founded by brothers Nikhil Gupta and Abhijit Gupta, Popo Global operates across dine-in, delivery and delivery-kitchen formats. However, the company did not disclose its revenue, profitability, target cities or outlet expansion plans.“Bringing Artal Asia into Popo lets us think considerably bigger while keeping the spirit that got us here, never cutting any corners on quality,” the founders said. “They have partnered with some of the world’s most successful food businesses, and they understand that the product has to stay at the centre of it.”Artal Asia is an affiliate of Artal Group, whose global food investments include NYSE-listed Mediterranean restaurant chain Cava. In India, the group previously backed Capital Foods, the company behind Ching’s Secret and Smith & Jones, for more than a decade before its acquisition by Tata Consumer Products.“Our mission is to empower exceptional entrepreneurs to transform their industries. We are proud to support Popo Global in continuing their customer and product obsession at greater scale,” Artal Asia director Lee Swee Yin said.Get the latest Business News and Live updates. Download the TOI app.