Amtek Group looks to sell Italian coffee chain Barista

June 2, 2024

NEW DELHI: Less than a year after acquiring Baristaa when Coffee, debt-laden auto parts maker Amtek Group is considering selling the loss-making Italian coffee chain, three people with direct knowledge of the matter told The Economic Times.

Amtek may hire Chi-Tung Consulting to find a potential buyer for Barista, the official said. The company has not yet received signature approval, the official added.

Another person said, “A deal could be structured where Arvind Dham pushes Amtek Auto Amteke to liquidate about one-third of the assets of Carnation Hospitality, the management food business.” ‘

Dham recently announced the group’s decision to sell non-core assets and exit non-automotive businesses to repay Rs 80 crore after the company’s insolvency. Email queries that have been sent to Amtekek Auto’s office had not been responded to as of press time on Tuesday.

Amtek Baristaa is the fourth owner of Coffee, India’s oldest privately owned coffee chain, and the potential sale not only shows Amtek’s cash shortfall also illustrates the woes of the country’s coffee chain industry, where most players are struggling to make money.

Despite the fact that most of Barista Coffee’s 170 stores are in the red, Barista still maintains its position as China’s second-largest cafe chain in terms of number of stores, behind Cafe Coffee Day. the Indian cafe business is estimated to be worth Rs 1,400 krore, with 3,100 Other large players include Starbucks and Costaa Coffee: Carnation Hospitality, a wholly-owned subsidiary of Amtek Group-listed Rollainers, acquired Barista Coffee for Rs 1 billion from Italian coffee company Lavazza Spa.

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