TPG Capital, a private equity company, has initiated talks for a possible acquisition of Coffee Day Global (CDG), parent company of Cafe Coffee Day (CCD). According to media reports, talks are at exploratory stage.
Global beverage major Coca-Cola was reportedly in talks with late V.G. Siddhartha, founder chairman, for the promoter’s stake in the coffee chain.
Coffee Day Enterprises Ltd (CDEL) owns around 89 per cent of CDG, which comprises a chain of about 1,750 stores, nearly 600 Value Express kiosks and 60,000 coffee vending machines in corporate offices and hotels across the country.
Further, coffee beans and powder are marketed through about 450 ‘Fresh and Ground Coffee’ retail stores.