Fairfax buys MW Eat with plans for expansion

Canadian concern radical Fairfax Financial Holdings has acquired UK edifice relation MW Eat successful a backstage deal.

The caller proprietor has signalled plans to grow the concern internationally.

The transaction, whose fiscal details were not made public, sees Fairfax instrumentality power of the radical down London Indian restaurants Amaya, Veeraswamy, Chutney Mary and the Masala Zone chain.

MW Eat was created by Namita Panjabi and Ranjit Mathrani, who opened Chutney Mary successful 1990.

They were aboriginal joined successful 2001 by Camellia Panjabi, antecedently a committee subordinate astatine Taj Hotels.

The 3 founders are acceptable to stay progressive with the institution and enactment alongside Fairfax to negociate the transition.

Camellia said: “This acquisition marks a transformative section for MW Eat. Fairfax brings fiscal strength, planetary perspective, imaginativeness and a long-standing committedness to India. These qualities perfectly complement MW Eat’s practice and aboriginal ambitions.

Fairfax, led by businessman Prem Watsa, is expected to perpetrate further superior to backmost MW Eat’s expansion.

The radical is examining caller edifice concepts and formats arsenic portion of its maturation plans.

Camellia said: “We person developed fantabulous restaurants with fantabulous radical whose vocation opportunities volition beryllium enhanced by the caller concern and ambitions of Fairfax. MW Eat is successful precise harmless hands.

“The 3 MW Eat directors look guardant to supporting Fairfax to instrumentality our unsocial brands global. Our committed unit backed by the caller owners volition marque this happen”.

The improvement strategy is expected to gully connected Fairfax’s acquisition successful India, wherever the Canadian steadfast has antecedently committed funds to Bangalore International Airport, Thomas Cook India and Sterling Holiday Resorts.

The woody comes astatine a clip erstwhile Veeraswamy - known arsenic 1 of the UK’s oldest Indian restaurants - is contesting a determination by The Crown Estate not to widen its lease.

"Fairfax buys MW Eat with plans for expansion" was primitively created and published by Verdict Food Service, a GlobalData owned brand.

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