• Transaction marks KKR’s latest growth equity investment in India

Rebel Foods, a leading internet restaurant company, and global investment firm KKR today announced the completion of an investment in Rebel Foods by affiliates of KKR. Through this transaction, KKR will support the Company’s growth, including its expansion in India and the Middle East and adding more food and beverage brands into its portfolio.

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Founded in 2011 as a quick service restaurant, Rebel Foods is today the world’s largest multi-brand cloud kitchen platform, with 450 cloud kitchens serving a network of more than 5,000 internet restaurants in more than 70 cities across India, the UAE, and the UK, and more than two million customers globally. Rebel Foods uses a proprietary technology stack to deliver on end-to-end food orders, demand forecasting, brand launches and customer insights for multiple food and beverage brands. Over the years, Rebel Foods has built a comprehensive ecosystem of brands, including Faasos, Behrouz Biryani, Oven Story Pizza, Lunchbox, The Good Bowl, Sweet Truth, and Wendy’s, among others.

Jaydeep Barman, Co-founder and CEO of Rebel Foods, said, “We are happy to welcome KKR as a strategic partner in our journey. Their investment is a testament to the inroads we have made towards our vision of building a stronger platform, expanding our portfolio of brands, scaling our omnichannel presence, and achieving operational excellence on a global scale. We look to tap into KKR’s deep experience and global expertise to supercharge our continued growth. As we continue to scale, our focus remains firmly on innovation, sustainability, and delivering long-term value for our customers and stakeholders.”

Akshay Tanna, Partner and Head of India Private Equity, KKR, said, “We are pleased to invest in Rebel Foods, the largest cloud kitchen operator and brand owner, using technology to deliver a range of cuisines and culinary experiences to consumers. We look forward to leveraging our global network and local knowledge, and operational and technology expertise to further scale the company’s ability to expand its portfolio and deliver novel products to meet consumers’ evolving preferences.”

This transaction marks KKR’s latest investment in India made from its Asia Next Generation Technology strategy, which seeks to support the growth of innovative, disruptive companies in Asia Pacific across consumer technology, software, and FinTech.

KKR’s other growth equity investments in Asia Pacific include SmartHR, a cloud-based HR management software in Japan; MUSINSA, an online fashion platform in Korea; Advanced Navigation, a developer of AI robotics and navigation technology in Australia; Privy, a digital trust provider in Indonesia; KiotViet, a merchant platform for SMEs (small and medium-sized enterprises) in Vietnam; and GrowSari, a B2B e-commerce platform serving SMEs in the Philippines.

Avendus Capital acted as the exclusive financial advisor to Rebel Foods on this transaction.

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About Rebel Foods

Rebel Foods is the world’s leading internet restaurant company and home to brands including Faasos, Behrouz Biryani, Oven Story Pizza, The Good Bowl, Sweet Truth, and Wendy’s. With over 450 kitchens across 70 cities, Rebel Foods has developed its full-stack technology - Rebel OS - through which multiple Rebel brands are launched and scaled up in a very short period. Through the Rebel Launcher, powered by Rebel OS, Rebel has launched over 25+ brands and expanded across the country. Rebel Foods currently operates 45+ brands across multiple countries - India, the United Arab Emirates (Dubai, Abu Dhabi, Sharjah) and the United Kingdom.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

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