Temasek's Strategic Stake: A Boost for Rebel Foods' Global Ambitions

Temasek Holdings seeks approval from the Competition Commission of India to acquire a stake in Rebel Foods. Through Jongsong Investments, Temasek aims to invest in the cloud kitchen giant, which owns brands like Faasos and Behrouz Biryani. This move is part of Rebel Foods' expansion strategy, amid rising revenues and narrowing losses.

In a significant development, Singapore's sovereign wealth fund, Temasek Holdings, has applied for approval to acquire a stake in the Indian foodtech company Rebel Foods. The proposed acquisition, valued between USD 100-150 million, will see Temasek support Rebel Foods through compulsory convertible preference shares.

Temasek, operating via Jongsong Investments Pte, is set to boost Rebel Foods, known for brands like Faasos and Behrouz Biryani, in its ambitious growth strategy. As the world's largest internet restaurant operator, Rebel Foods is expanding across 70 cities and over 45 brands.

The transaction has been positioned as a non-competitive threat under India's Competition Act, 2002. Rebel Foods, founded in 2011 by Jaydeep Barman and Kallol Banerjee, reported an 18.8% revenue increase to Rs 1,420.24 crore in FY24, despite previous financial challenges.

(With inputs from agencies.)