Barbeque Nations jumps 2% on acquisition of further 6.34% stake in Red Apple Kitchen

2 Aug 2022 , 12:39 PM

Barbeque Nation Hospitality Limited informed that the Board of Directors has approved the acquisition of equity shares constituting 6.34% Paid-up Share Capital of Red Apple Kitchen Consultancy Private Limited (Toscano) a Subsidiary of the Company.

The acquisition is from the existing shareholders of Toscano for a total consideration of Rs7.66 crore.

Company has increased its shareholding from existing 68.82% to 75.16% by acquiring 400 equity shares.

Toscano’s primary business is the establishment and operation of restaurants, the provision of kitchen solutions for homes, restaurants, hotels, and general industries, and the provision of consulting services to hotels, restaurants, and vacation resorts in the areas of design, establishment, operation, and marketing.

At around 12.42 PM, Barbeque Nation was trading 2.11% higher at Rs1,220.55 per share, against previous close of Rs1,195.30 on NSE.