Ajay Kaul, former CEO of Jubilant FoodWorks
Ltd, has joined Everstone Group
as Senior Director to support growth in the Quick Service Restaurant (QSR) business of its food platform F&B Asia.
The development comes at a time QSR front, the platform company plans to grow Domino’s as well as Burger King in India. Its rival McDonald
in India is facing closure over license issue.
F&B Asia is an investment vehicle owned and managed by Everstone that was created to build a Pan-Asian Food and Beverage Services (“F&B”) platform across multiple formats and cuisines.
The food and beverage (F&B) industry veteran will also serve as Executive Chairman on the boards of F&B Asia’s investments in Indonesia: Domino’s and Burger King. The former CEO of Jubilant FoodWorks
Ltd., which includes brands such as Domino’s Pizza India and Dunkin’ Donuts India,
Kaul, who has spent more than a decade in the F&B industry, took Domino’s in India to become the largest market for Domino’s outside of the US. It is the largest QSR brand in India for the past few years.
At Everstone, he will oversee QSR investments of F&B Asia that owns and operates several marquee brands such as Burger King (India and Indonesia), and Domino’s (Indonesia).
Also under the platform’s umbrella are brands such as Masala Library, Farzi Café, Pa Pa Ya, Masala Bar, Harry’s, Pind Balluchi, and Duck & Rice.
Kaul's experience and success in the food sector will be greatly beneficial as we target higher and sustained growth in our QSR businesses in Indonesia—Burger King as well as the Domino’s brand, commented Philip Walters, Executive Chairman, F&B Asia.
F&B Asia is an investment vehicle owned and managed by Everstone that was created to build a Pan-Asian Food and Beverage Services (“F&B”) platform across multiple formats and cuisines. On the QSR front, the platform company plans to grow Domino’s Indonesia, as well as Burger King Indonesia and India, by 30 to 50 stores each annually.