JB Group forms JV with JEG Foods
to open food outlets in India
The JV has plans to open 100 stores in India, Europe and South East Asia in the next three years with an investment of Rs 100 crore. JB Group has a 51 per cent stake in the JV while JEG Foods holds the remaining 49 per cent.
The JV has plans to open 30 outlets under the brand name Falafel's Veg Hummus House in the next one and a half years in India. It is targetting cities such as Pune, Surat, Hyderabad, Bangalore and Delhi to open stores.
Falafel will sell vegetarian, mediterranean, fresh cuisine through the outlets. The JV has already opened five outlets in Mumbai.
The $3-billion JB Group has interests in property, mining, oil and gas, alternative energy among others while JEG has food outles in Isreal and the US.