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August 12, 2013

Deal Alert: Cookie Man buys ID restaurant chain from Sathyam Cinemas

Confectionary chain Cookie Man, promoted by SBP Pattabhi Rama Rao, has bought into ID (standing for idlidosa), started in 2010 by SPI Diners, an arm of Chennai’s theatre chain Sathyam Cinemas. Till January this year, ID ran only one outlet, inside Sathyam Cinemas. Since then, it has started six more - two in Coimbatore and four in Chennai. Cookie Man plans to increase the total number of ID outlets to 12 by end of 2013-14 in Chennai and Coimbatore. Next financial year, the brand would be taken to Bangalore and Hyderabad. Each ID, with seating typically for 100 customers, gets footfalls of over 1,000 during the weekends (double that of the weekdays), and entails an investment of over Rs 1 crore.

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