Italian company Lavazza Spa is reportedly seeking a buyer for its coffee chain Barista in India.
Local media reports suggest former Barista CEO Ravi Deol is interested in buying the cafe chain, which has 180 outlets across India and is the country’s second largest coffee chain after Cafe Coffee Day.
Deol is currently the CEO of Indian Hospitality Corporation, which bought British sandwiches and pastry maker Adelie two years ago.
Both parties declined to comment on the reported sale.
A person knowledgable with the matter said Lavazza plans to complete the deal by April.
India’s cafe market is tipped to grow 13 to 14 per cent over the next five years, however, players still find it difficult to thrive due to stiff competition, high rental costs as well as sluggish economy.