India Hospitality Corp acquires UK’s Adelie Food for $350-M: India Hospitality Corp. (IHC), the owner of eateries Jazz by the Bay and All Stir Fry, has bought UK's Adelie Food Group for $350 million from PE firm Duke Street Capital. Adelie supplies quiches, salads, sandwiches and assorted ready-to-eat foods to retail chains such as Starbucks and Sainsbury's.
The acquisition of Adelie Food is IHC’s first major investment in UK. IHC had recently divested India’s largest Air-Catering business SkyGourmet to Zurich-based GateGroup. IHC, which owns restaurant brands like Birdys, All Stir Fry, Jazz by Bay, Just Around the Corner, Dosa Diner, and hotel chain - Gordon House, has acquired 100% stake in Adelie group from Duke Streeet Capital, the company said. Post acquisition, the existing structure of Adelie as the umbrella parent company will continue and Food Partners and Buckingham Foods will maintain their local identities.
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