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“CCI Approves KKR Stake Acquisition In Rebel Foods Company “

17 December, 20242 min read

CCI Approves KKR's Investment Proposal in Rebel Foods. The Competition Commission of India (CCI) has approved the proposal by private equity giant KKR to acquire a stake in Rebel Foods, a leading cloud kitchen unicorn. As per the CCI, KKR’s subsidiary, Royce Asia Holdings, will acquire shares and compulsorily convertible preference shares (CCPS) of Rebel Foods through a secondary transaction. Final details are still undisclosed.

Rebel Foods

Rebel Foods, the parent company of brands like Faasos and Behrouz Biryani, has been a pioneer in the cloud kitchen industry in India. KKR’s investment marks another milestone in Rebel Foods’ growth journey, further strengthening its position in the highly competitive food delivery market.

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The CCI’s approval indicates that the proposed transaction does not pose any competitive concerns in India. The regulatory body stated that there is no need to define a relevant market due to the absence of horizontal overlaps or vertical/complementary business activities between the parties in India. Furthermore, the deal is not expected to have any adverse impact on competition in the country.

KKR Growing Interest 

This move underscores KKR's growing interest in investing in India’s flourishing startup ecosystem. By partnering with Rebel Foods, KKR aims to leverage its financial and operational expertise to expand the startup’s footprint both domestically and internationally.

The transaction aligns with the broader trend of private equity firms investing in the rapidly growing cloud kitchen and food tech sectors, which have seen significant growth post-pandemic due to rising consumer demand for online food delivery.

Author Opinion 

Rebel Foods was started in 2011 by Jaydeep Barman and Kallol Banerjee. Recently, big news related to the company has come out. CCI has approved KKR's investment proposal in Rebel Food company. This is a very big achievement for both parties in this case to approve KKR's Investment Proposal.


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