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Atul Kapur and Sameer Sain Bring the King to India
Burger King may be a late entrant into India, but when it came to creating a buzz, it surely hit it off with Everstone Group, a Singapore-based private equity firm co-founded by Atul Kapur and Sameer Sain in 2006.
By: Everstone Group
The Group successfully built up a pre-launch buzz by preselling Burger King’s mutton, chicken and vegetarian offerings on eBay which drew online orders for 1,200 Whoppers in just a few hours. It was a first for a worldwide food chain to leverage an online platform for marking its first footprints in India and it turned out a master stroke.
Everstone was cofounded by Atul Kapur and Sameer Sain in 2006, and though little-known, it’s hardly an outsider to the counter trade with over 200 eateries under its belt, including famous chains like Copper Chimney, Bombay Blues, and Noodle Bar.
Burger King, which is owned by gonzo equity firm 3G Capital, took a close look at several perspective suitors in 2013 before giving Everstone Group the nod. The Group’s cofounder, Sameer Sain, puts it down to the high aspirations they set for themselves that put them in the contender race.
“We don’t believe in growing slowly,” says Sain, a sentiment echoed by managing partner Atul Kapur who declares, “We were hungry for the business.” Elaborating on what it a takes for a private equity firm, very few of which make it big in India, to climb high up the payoff ladder, Sain puts it down to an entrepreneurial approach. “If you have both capital and execution ability, that’s a winning formula, “he adds.
Elias Dias Seze, the recently promoted boss of Burger King’s subsidiary, Tim Hortons, confirms that the decision to go with Everstone was an inspired one. Everstone has also gone on to secure the Burger King franchise for Indonesia along with a local partner.
Related News: http://www.forbes.com/
Page Updated Last on: Feb 10, 2015