[email protected] Closes Deal with Swiggy for the Acquisition Of its Access Kitchens Business

Swiggy will become a stakeholder in [email protected] through this all-equity transaction

BANGALORE, India, March 3, 2023 /PRNewswire/ — [email protected], a leading player in the rapidly growing cloud kitchen industry today announced the acquisition of Swiggy’s Access Kitchens business through a share swap deal, effective as of 1st March 2023.

Junaiz Kizhakkayil, Founder & CEO of Kitchens@

Swiggy pioneered the cloud kitchen model with the launch of Swiggy Access in 2017 and allows restaurant partners to establish kitchen spaces in neighbourhoods. These ‘delivery-only’ kitchen spaces align with [email protected]’s own cloud kitchen model by leveraging Swiggy’s analysis of local demand and selection of high-performing partners.

[email protected] has long been focused on organizing the supply side of the food industry, utilizing its state-of-the-art cloud kitchen infrastructure, optimized supply chain network, culinary expertise, and cutting-edge technology. The company’s aggregator-neutral approach enables high-throughput brands to have an efficient online presence, driving hygiene and operational efficiency at scale. The acquisition brings Swiggy on board as a stakeholder in [email protected], emphasizing the strength and stability of the company’s financial performance and operations.

“The addition of Swiggy’s Access kitchens will bolster the reach and operations of [email protected] in four cities across 52 locations and 700+ kitchens, providing customers with more convenient and efficient food delivery options, Our goal has always been to make fresh food accessible by powering a super-efficient food delivery ecosystem,” said Junaiz Kizhakkayil, Founder & CEO of [email protected]

“Swiggy Access was started with the aim to bridge hyperlocal gaps in restaurant supply and solve for variety, quality, and convenience of food. We are confident that [email protected] is fully equipped to nurture this ecosystem by innovating and building more supply. Swiggy continues to believe in the potential of this space and remains invested as a stakeholder in [email protected],” said Rahul Bothra, CFO of Swiggy.

The current transaction enables a combined annual GMV of $65 million (₹520 Cr) for [email protected] The company aims to reach $100 million in revenue within the next 6 months and has already secured Letters of Intent with over 40 national and international brands to partner with it using a Master Franchise Model.

About Swiggy:

Founded in 2014, Swiggy is India’s leading on-demand convenience platform. Its quick commerce grocery service Instamart is present in over 25 cities. Using innovative technology, Swiggy provides a hassle-free, delivery experience.

For more information, please contact:

Loyal Hospitality Private Limited
Mr. Junaiz Kizhakkayil
Founder & CEO
[email protected]

Photo: https://mma.prnewswire.com/media/2014638/Junaiz_Kizhakkayil.jpg
Logo: https://mma.prnewswire.com/media/2014639/Kitchens_Logo.jpg

Kitchens@ Logo


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Kitchens@ Closes Deal with Swiggy for the Acquisition Of its Access Kitchens Business WeeklyReviewer

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