Street food brand eyes global expansion after landing investment deal
Chaiiwala, the Leicester-headquartered independent quick service restaurant brand, says it is poised for worldwide growth following the announcement of a partnership with investment firm Lote Global.
This collaboration is part of Chaiiwala’s long-term plan to strengthen and accelerate its domestic and international expansion to 500 stores with a keen focus on key growth markets including the USA, Canada, and the Middle East.
Chaiiwala currently has a portfolio of 90 stores across the world with plans to hit 100 by year-end including new openings in the UAE and Canada.
Established in 2015 in Leicester, Chaiiwala offers a fusion of authentic Indian street food with a Western twist. The menu showcases breakfast, lunch, desert and all-day items with signature products such as Karak Chaii, Caramel Chaii, English-Ish Breakfast, Masala Chips and Karachi Bun Kebab.
The brand utilises various formats for its stores such as High Street locations, small kiosks, and retail park units. Chaiiwala made history as the UK’s first Drive-Thru business serving Indian street food with the opening of its Bolton store last year.
Muhummed Ibrahim, chief executive officer at Chaiiwala, expressed his excitement about the partnership and its potential impact on the Indian street food market.
He said: “We are pleased to welcome Lote Global to the team as we solidify our position as the leading Indian street food business and shape the Chaiiwala brand for its next global chapter.
“Collaborating with the Lote Global team, we believe we have found the ideal partner to expedite our vision of reaching 500 stores by 2026.
“The extensive experience and knowledge of the Lote Global team in key growth markets, such as the USA and the Middle East, will be invaluable as we embark on this pivotal phase of our journey.
“We have already laid the groundwork for our expansion in these crucial markets and have confidence that our partners will help us seize the significant global opportunity that lies ahead.”
Wasim Choudhury, chief executive officer of Lote Global Investments, said: “We are delighted to have partnered with Chaiiwala to help take the brand on the next stage of its growth story.
“Lote Global is focused on supporting the Chaiiwala team to build on its successes and drive geographic, format and channel expansion. Our investment is a demonstration of our belief and confidence in Chaiiwala and its potential to become a truly global brand.”
Chaiiwala were advised by KPMG (corporate finance and tax), Freeths (legals) and GT (due diligence) while Lote Global was advised by PwC (financial due diligence and tax due diligence), Addleshaw Goddard (legal), OC&C (commercial diue diligence), Cross8 (corporate due diligence) and Al Maqasid (Shariah due diligence) as part of the deal.