Westlife Foodworld

Last updated

Westlife Foodworld Limited
Company typePublic
BSE:  505533
NSE:  WESTLIFE
ISIN INE274F01020
IndustryRestaurants
Founded30 October 1982;42 years ago (1982-10-30)
HeadquartersTower 3, Indiabulls Finance Center, Senapati Bapat Marg, Elphinstone Road,
Mumbai, Maharashtra
,
India [1]
Number of locations
305 outlets [2]  (October 2021)
Areas served
Key people
Amit Jatia (Chaiperson) [3]
Brands
ServicesMaster franchisee for McDonald's in western and southern India
RevenueIncrease2.svg₹2,259 crore (US$260 million) (FY23) [4]
Increase2.svg₹112 crore (US$13 million) (FY23) [4]
Owners
  • Horizon Impex Pvt Ltd (30.4%)
  • Subh Ashish Exim Pvt Ltd (21.37%)
  • Makino Holdings Limited (7.64%) [5]
Number of employees
6,905 [6]  (FY18)
Subsidiaries Hardcastle Restaurants Pvt. Ltd.
Website www.westlife.co.in

Westlife Foodworld Limited (formerly Westlife Development Limited) [7] is an Indian fast food restaurant holding company. Its wholly owned subsidiary Hardcastle Restaurants Pvt. Ltd. (HRPL) holds the master franchise for McDonald's in western India and South India. [8] [9]

Contents

McDonald's Indian subsidiary, McDonald's India Private Ltd., acquired complete ownership of Connaught Plaza Restaurants Limited, its other Indian master franchisee, on 9 May 2019, ending a partnership established in 1995 and leaving Westlife Development as McDonald's only third-party master franchisee in India. [10]

History

Westlife Development was founded on 30 October 1982. [5] Hardcastle Restaurants was established as a joint venture between Westlife Development and the McDonald's Corporation in 1995. McDonald’s as a fast food joint has been in operation in India Hardcastle opened its first McDonald's restaurant in Bandra, Mumbai in 1996, three days after McDonald's other Indian franchisee have opened the first McDonald's outlet in the country in Basant Lok, Vasant Vihar, Delhi. [11] The joint venture was converted into a master franchisee in 2010. [12] Amit Jatia, the Chairperson of Westlife Foodworld, acquired the McDonald's Corporation's 50% stake in Hardcastle for an undisclosed amount in late 2012. Hardcastle was merged into the listed group company Westlife Development, making the former a wholly owned subsidiary of the latter. [13] Westlife Development was listed on the Bombay Stock Exchange on 27 August 2013. [14]

McDonald's breakfast menu was launched in 2010, and made available all day long at select outlets from 2016. The first McCafe was opened in Mumbai in 2013. [15]

In 2017, Hardcastle initiated a pilot project to use biodiesel made from used cooking oil to power its refrigerated supply delivery trucks some of its restaurants in Mumbai. [16] [17] The program was successfully rolled out to half of the company outlets by July 2018. [18] Hardcastle began rolling out self-ordering kiosks at McDonald's outlets in 2017. [19] The first kiosk was installed at the outlet in CR2 Mall at Nariman Point, Mumbai in March 2017. [20]

Related Research Articles

<span class="mw-page-title-main">Fast-food restaurant</span> Type of restaurant

A fast-food restaurant, also known as a quick-service restaurant (QSR) within the industry, is a specific type of restaurant that serves fast-food cuisine and has minimal table service. The food served in fast-food restaurants is typically part of a "meat-sweet diet", offered from a limited menu, cooked in bulk in advance and kept hot, finished and packaged to order, and usually available for take away, though seating may be provided. Fast-food restaurants are typically part of a restaurant chain or franchise operation that provides standardized ingredients and/or partially prepared foods and supplies to each restaurant through controlled supply channels. The term "fast food" was recognized in a dictionary by Merriam–Webster in 1951.

<span class="mw-page-title-main">Burger King</span> Global chain of hamburger fast food restaurants headquartered in Florida

Burger King Corporation is an American multinational chain of hamburger fast food restaurants. Headquartered in Miami-Dade County, Florida, the company was founded in 1953 as Insta-Burger King, a Jacksonville, Florida–based restaurant chain. After Insta-Burger King ran into financial difficulties, its two Miami-based franchisees David Edgerton (1927–2018) and James McLamore (1926–1996) purchased the company in 1959. Over the next half-century, the company changed hands four times and its third set of owners, a partnership between TPG Capital, Bain Capital, and Goldman Sachs Capital Partners, took it public in 2002. In late 2010, 3G Capital of Brazil acquired a majority stake in the company in a deal valued at US$3.26 billion. The new owners promptly initiated a restructuring of the company to reverse its fortunes. 3G, along with its partner Berkshire Hathaway, eventually merged the company with the Canadian-based coffeehouse chain Tim Hortons under the auspices of a new Canadian-based parent company named Restaurant Brands International.

<span class="mw-page-title-main">Connaught Place, New Delhi</span> Business district in Delhi, India

Connaught Place, also known as Rajiv Chowk or CP, is one of the main financial, commercial and business centres in New Delhi, Delhi, India. It houses the headquarters of several noted Indian firms and is a major shopping, nightlife, and tourist destination in New Delhi. As of July 2018, Connaught Place ranked as the ninth most expensive office location in the world, with an annual rent of $1,650 per square meter.

McDonald's has been involved in a number of lawsuits and other legal cases in the course of the fast food chain's 70-year history. Many of these have involved trademark issues, most of which involving the "Mc" prefix, but McDonald's has also launched a defamation suit which has been described as "the biggest corporate PR disaster in history".

<span class="mw-page-title-main">Trent Limited</span> Indian retail company

Trent Limited is an Indian retail company, which is part of the Tata Group and based in Mumbai. Started in 1998, Trent owns and operates fashion and lifestyle retail formats such as Westside, Zudio and Utsa. The company also runs retail chains like Star Bazaar and Zara through joint ventures.

Bharti Enterprises is an Indian multinational conglomerate, headquartered in Delhi. It was founded in 1976 by Sunil Bharti Mittal. Bharti Enterprises owns businesses spanning across telecommunications, manufacturing, insurance, real estate, hospitality, and food. The group's flagship company, Bharti Airtel, is a telecom service provider with operations in more than 18 countries across Asia, Africa and Europe. The company ranks amongst the top two mobile network operators globally by number of subscribers.

<span class="mw-page-title-main">McCafé</span> McDonalds coffee bar

McCafé is a coffee shop-style food and beverage chain, owned by McDonald's. Conceptualised and launched in Melbourne, Australia in 1993 and introduced to the public with help from McDonald's CEO Charlie Bell and then-Chairman and future CEO James Skinner, the chain reflects a consumer trend towards espresso coffees.

<span class="mw-page-title-main">Reliance Retail</span> Indian retail company

Reliance Retail is an Indian retail company and a subsidiary of Reliance Industries. Founded in 2006, it is the largest retailer in India in terms of revenue. Its retail outlets offer foods, groceries, apparel, footwear, toys, home improvement products, electronic goods, and farm implements and inputs. As of 2023, it has over 245,000 employees at 18,000 store locations in 7,000 towns.

Nirula's is India's oldest fast food restaurant chain. It was Delhi's first fast food restaurant, opening in Connaught Place in 1977. Today it has over 70 outlets in Delhi, Haryana, Punjab, and Uttar Pradesh, offering a "Desi" version of Western fast food items.

Motilal Oswal is an Indian businessman. He is the founder, chairman and managing director of Motilal Oswal Financial Services Ltd, which he co-founded with Raamdeo Agrawal in 1987.

<span class="mw-page-title-main">Jubilant FoodWorks</span> Indian restaurant company

Jubilant FoodWorks Limited is an Indian food service company based in Noida, which holds the master franchise for Domino's Pizza in India, Nepal, Sri Lanka and Bangladesh, for Popeyes in India, Bangladesh, Nepal, and Bhutan, and also for Dunkin' Donuts in India. The company also operates two homegrown restaurant brands called Ekdum! and Hong's Kitchen. Jubilant FoodWorks is a part of the Jubilant Bhartia Group, owned by Shyam Sunder Bhartia and Hari Bhartia.

<span class="mw-page-title-main">Jumbo King</span> Indian fast-food restaurant chain

Jumboking is an Indian vegetarian burger quick service restaurant chain. Established on 23 August 2001 by Dheeraj Gupta, Founder and MD of Jumboking and Reeta Gupta, the Co-founder, the company got inspired by the fast food business model of McDonald's and Burger King. The chain has more than 145 outlets in major Indian cities such as Mumbai, Navi Mumbai, Thane, Delhi, Hyderabad and Pune. The company has delivery tie-ups with Swiggy and Zomato to service out-of-store orders.

<span class="mw-page-title-main">Tata Starbucks</span> Joint venture company

Tata Starbucks Private Limited, formerly known as Tata Starbucks Limited, is a 50:50 joint venture coffee company, owned by Tata Consumer Products and Starbucks Corporation, that owns and operates Starbucks outlets in India.

<span class="mw-page-title-main">Indian Oil Corporation</span> Indian integrated energy company

Indian Oil Corporation Limited, trading as IndianOil, is an Indian multinational oil and gas company under the ownership of Government of India and administrative control of the Ministry of Petroleum and Natural Gas. It is a public sector undertaking which is registered in Mumbai but headquartered in New Delhi. It is the largest government-owned oil producer in the country both in terms of capacity and revenue. It has consolidated refining capacity of 80.55MMTPA.

<span class="mw-page-title-main">Thyrocare</span> Indian medical diagnostic company

Thyrocare Technologies Limited is an Indian multinational chain of diagnostic and preventive care laboratories, headquartered in Navi Mumbai. As of 2021, the company has a total of 1,122 outlets and collection centers across India and parts of Nepal, Bangladesh and the Middle East.

Avinash Kumar Agarwal is director of Indian Institute of Technology, Jodhpur. He is an Indian mechanical engineer, tribologist and a professor at the Department of Mechanical Engineering of the Indian Institute of Technology, Kanpur. He is known for his studies on internal combustion engines, Emissions, alternate fuels and CNG engines and is an elected fellow of the American Society of Mechanical Engineering (2013), Society of Automotive Engineers, US (2012), National Academy of Science, Allahabad (2018), Royal Society of Chemistry, UK (2018), International Society for Energy, Environment and Sustainability (2016), and Indian National Academy of Engineering (2015). The Council of Scientific and Industrial Research, the apex agency of the Government of India for scientific research, awarded him the Shanti Swarup Bhatnagar Prize for Science and Technology, one of the highest Indian science awards for his contributions to Engineering Sciences in 2016. Agarwal has been bestowed upon Prestigious J C Bose Fellowship of Science and Engineering Research Board. Government of India. Agarwal is among the top ten highly cited researchers (HCR) of 2018 from India, as per Clarivate Analytics, an arm of Web of Science.

Russell Arunbhai Mehta is an Indian businessman. He is the managing director of Rosy Blue India, the Indian arm of the family-owned Indian conglomerate with interests in retail, media, real estate, financial services and diamonds Rosy Blue.

Harsh Mariwala is an Indian entrepreneur, who is the founder and Chairman of Marico, a Fortune India 500 company from Gujarat.

<span class="mw-page-title-main">Operations of KFC by country</span>

KFC is a subsidiary of Yum! Brands, one of the largest restaurant companies in the world. KFC had sales of $23 billion in 2013. KFC is incorporated under Delaware General Corporation Law, and has its headquarters at 1441 Gardiner Lane, Louisville, Kentucky, in a three-story colonial style building known colloquially as the "White House" due to its resemblance to the US president's home. The headquarters contain executive offices and the company's research and development facilities.

References

  1. ↑ "Contact Us". Westlife Development. Retrieved 19 April 2019.
  2. ↑ Ambwani, Meenakshi Verma; Jayan, TV (13 October 2021). "Westlife Development to launch 200 McDonald's outlets in next five years". The Hindu Business Line. Retrieved 11 June 2022.
  3. ↑ "Board of Directors". Westlife Development. Retrieved 19 April 2019.
  4. 1 2 "Westlife Development net profit grows 30.3% to Rs 20.3 cr in March quarter". Business Standard. Retrieved 7 November 2023.
  5. 1 2 "Annual Report 2017-18" (PDF). Westlife Development. Retrieved 19 April 2019.
  6. ↑ "Investors". Westlife Development. Retrieved 19 April 2019.
  7. ↑ "Westlife Development renamed Westlife Foodworld". mint. 4 November 2022. Retrieved 11 December 2022.
  8. ↑ "McDonald's posts its first-ever profit in India after 22 years". Business Today. 26 December 2018. Retrieved 19 April 2019.
  9. ↑ "Westlife Development Plans To Double McDonald's Store Count By 2022". BloombergQuint. 14 June 2018. Retrieved 19 April 2019.
  10. ↑ Bhushan, Ratna. "McDonald's buys Vikram Bakshi's 50% stake in Connaught Plaza Restaurants". The Economic Times. Retrieved 12 March 2022.
  11. ↑ "'As long as you are sure of what goes in your food, you're safe': Smita Jatia, MD, McDonald's India West and South - ET BrandEquity". ETBrandEquity.com. Retrieved 4 November 2021.
  12. ↑ Munshi, Neil (29 January 2015). "McDonald's and its challenges worldwide: a market-by-market look". Financial Times. Retrieved 19 April 2019.
  13. ↑ "McDonald's franchisee Hardcastle Restaurants merges with BSE-listed group company - Times of India". The Times of India. 7 December 2012. Retrieved 19 April 2019.
  14. ↑ "WDL Listing". Westlife Development. Retrieved 19 April 2019.
  15. ↑ Tandon, Suneera (3 March 2017). "McDonald's is finally taking note that Indians have moved beyond the humble McAloo Tikki burger". Quartz India. Retrieved 19 April 2019.
  16. ↑ "McDonald's recycles used oil to power delivery trucks". Fortune India. 4 July 2018. Retrieved 19 April 2019.
  17. ↑ Agarwal, Sapna (24 July 2018). "McDonald's recycles used oil to power trucks in sustainability push". Mint. Retrieved 19 April 2019.
  18. ↑ Pinto, Viveat Susan (23 July 2018). "McDonald's does a first in India, converts used cooking oil into biodiesel". Business Standard India. Retrieved 19 April 2019.
  19. ↑ Agarwal, Sapna (1 September 2018). "McDonald's bets on tech for better ratings". Mint. Retrieved 19 April 2019.
  20. ↑ "McDonald's India launches its first EOTF restaurant in South Mumbai". exchange4media. Retrieved 19 April 2019.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.