Theobroma patisserie chain, built by Mumbai-based sisters, eyes Rs 2,410 crore deal with ChrysCapital
According to The Economic Times, the homegrown private equity firm will reportedly purchase nearly 90 per cent of the company from its founding promoters, the Wykes family, and existing investor ICICI Venture. The remaining 10 per cent stake is expected to remain with the current shareholders.
Born in a small kitchen in Colaba at a neighbour's request, Theobroma — Greek for 'Food of the Gods' — was founded in 2004 by the two sisters. It began as a modest café with just four tables in Mumbai's Colaba and has since grown into a leading patisserie chain with presence in over 30 cities across India.
What makes Theobroma's journey exciting is the fact that it is a story of a family coming together and turning their dreams into reality.
Kainaz, often described as the soul of Theobroma, began baking as a child, helping her mother, who ran a home-bakery called Not Just Desserts. A trip to France at 16 proved to be a turning point, inspiring her to pursue the culinary arts. She later graduated from Institute of Hotel Management (IHM) Mumbai and the Oberoi Centre of Learning and Development (OCLD) in Delhi, and went on to work as a pastry chef at the Oberoi Udaivilas.
In 2004, she launched Theobroma as a cosy neighbourhood coffee shop in Colaba. The second outlet opened in Bandra in 2010 — and the rest, as they say, is history. Today, Theobroma is a household name, with its signature brownies becoming a mainstay across India.
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