Haldiram's to take its restaurant biz overseas

Snacks and fast food player Haldiram's today said it will take its restaurant business overseas, starting with UK this year.

It plans to have at least three restaurants in the overseas market within a couple of years.

"We have acquired some land and a warehouse in UK and have already applied for statutory approval to open the first restaurant there. It should be operational by end of this year," Haldiram's Chairman and MD Manoharlal Agarwal told PTI.

He said the company is also exploring opportunities in countries like the USA, Canada, Fiji and Mauritius.

"We are also scouting for properties in the US, Canada, Fiji and Mauritius. By the end of 2011, we are planning to have at least three restaurants overseas," Agarwal said.

He, however, did not provide investment details of the company's international plans.

Haldiram's already exports its snacks and sweets to over 60 countries. "We will focus on some of our specialised ready-to-serve fast foods, from among the 150-odd items in our menu, while planning our foreign enterprise," Agarwal added.

He further said that by opening restaurants overseas, the company not only wants to tap the diaspora, but is also looking at catering to the growing demand for Indian food items among local people.

The Rs 1,200 crore company has 28 restaurants in the domestic market with an average size of 5,000 sq ft. Its outlets in the international markets will maintain the same format, Agarwal said.

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