Speciality Restaurants Limited — Important, 10-02-2025: Agreements

Speciality Restaurants Limited has executed a Business Transfer Agreement with M/s. Brydan Foods to acquire their restaurant and cloud kitchen business under the brand name 'Mainland China' in Chennai, Tamil Nadu, on a slump sale basis, effective February 18, 2025. The annual revenue of the acquired business for FY 2023-24 was INR 3.08 Crore. This move aligns with the company's strategy to enhance its presence in the restaurant industry and expand its offerings in Chennai. The acquisition, valued at INR 2.3 Crore, will be completed on or before April 11, 2025, subject to certain conditions. Notably, this transaction is not classified as a related party transaction, and no regulatory approvals are required, which indicates a smooth path for execution. Investors should consider the potential growth opportunities this acquisition presents, positioning the company advantageously in a key market.