Lite Bite Foods to expand
15 Oct 2009
Lite Bite Foods, a quick service food chain, plans to invest Rs100 crore to open around 45 stores in the next three years across the country. Lite Bite Foods is the franchisee of fast food chain Subway. The company also runs brands like Food Union, Fresco, Baker Street and Pinos Pasta Pizza.
Promoted by Dabur vice-chairman Amit Burman, Lite Bite Foods currently has 40 stores and plans to add 10 outlets by the end of this fiscal.
''We have invested about Rs40 crore and we will be investing around Rs 100 crore in the next three years,'' informed Amit Burman at a press conference.
Burman added that the company has doubled the number of outlets in 2008, while its sales have increased three-fold last year.
''Growth has been tremendous as we have doubled the amount of outlets and our sales turnover has grown by 3 times in the last year. The growth in the industry is around 25 per cent,'' he said.