Rebel Foods acquires Majority Stake in Smoor

Recently, Rebel Foods announced that it has acquired a majority stake in Smoor. Rebel Foods operates a network of cloud kitchens and digital brands while Smoor is a luxury chocolate brand. Rebel Foods has built popular brands such as Faasos, Behrouz Biryani, Ovenstory Pizza, and Mandarin Oak. It also received the India franchise of the US burger brand Wendy’s, in 2021. In the month of October last year, Rebel Foods raised $175 million in its funding round. This funding round was led by Qatar Investment Authority. After this funding round, Rebel Foods turned Unicorn.

After the acquisition of Smoor, Raghav Joshi, co-founder of Rebel Foods said: “Being an early adopter of the Thrasio model in food in India, we have disrupted a 500 years old industry of the traditional restaurant business, by building a full-stack technology-enabled platform - Rebel Operating System. Our focus will continue to be on bringing great quality brands to every neighborhood across food missions.” 

Last year it also announced that it is planning to go public in the next couple of years. Currently, in more than 10 countries it operates more than 450 kitchens. The Chief executive officer of Smoor, Vimal Sharma after the deal in its statement said: “The Indian chocolate market is growing at a breakneck pace. With Rebel Foods’ investment, we are set to make deeper inroads into the global market, introducing new and exciting confectionaries in multiple, accessible formats.”