Acquires 85% Stake in Theobroma in ₹2,000 Crore Deal
Private equity giant ChrysCapital has entered the consumer sector with a splash, announcing its acquisition of a controlling stake in popular bakery chain Theobroma. The move marks the firm’s first buyout in the fast-growing food and beverage space.
In a statement released on Tuesday, ChrysCapital confirmed it has picked up around 85% equity in Theobroma. While the company did not disclose the exact financial details, sources familiar with the transaction pegged the deal at over ₹2,000 crore.
Theobroma’s founders will continue to be actively involved in the company’s operations, retaining a continuing equity interest to ensure brand consistency and growth momentum.
From One Café to a National Dessert Sensation
Founded in 2004 by sisters Kainaz Messman Harchandrai and Tina Messman Wykes, Theobroma began as a single café in Mumbai. Over the past two decades, it has expanded into a pan-India dessert powerhouse, offering an array of cakes, pastries, brownies, desserts, and chocolates.
Today, the brand boasts over 250 outlets across India, catering to a growing base of loyal customers who swear by its signature brownies and artisanal bakery products.
ChrysCapital’s Consumer Play
While ChrysCapital is known for its investments across sectors such as pharmaceuticals, financial services, and technology, this deal signals a strategic entry into India’s booming consumer and retail market.
Industry experts say the acquisition reflects a rising interest from private equity firms in India’s food and beverage sector, driven by urbanisation, changing consumer habits, and a growing appetite for premium products.
The Road Ahead for Theobroma
With ChrysCapital’s backing, Theobroma is expected to accelerate store expansion, strengthen supply chain capabilities, and invest in digital and delivery channels to meet rising demand.
Analysts believe that the deal could help Theobroma tap into new markets while maintaining the artisanal quality and brand identity that have fuelled its growth.
Bottom line: ChrysCapital’s ₹2,000 crore bet on Theobroma is more than just a sweet deal — it’s a signal of the bakery chain’s potential to dominate India’s premium dessert space, backed by big-ticket private equity muscle.
