CavinKare to foray into restaurant biz

CHENNAI: FMCG major, CavinKare is all set to foray into the restaurant business. It is mulling a fast-food joint in Puducherry and has almost frozen the venue, sources close to the development said.

���It is being planned as a chain of fast-food joints, the first of which is being planned in the Union Territory,��� the source said. The location is nearly final and it should be operational by June, they added. The investment in the maiden venture is said to be around Rs 1 crore.

When contacted, CavinKare chairman and managing director CK Ranganathan refused to comment. The Rs 700-crore FMCG player has products in the personal care (hair care and skin care categories, including Fairever, Meera and Chik) and food segments (Ruchi and Chinni���s being a couple of them). It also recently forayed into the packaged-liquid milk segment, acquiring a dairy plant in Kancheepuram district.

���While Puducherry has some established names in the hospitality segment (GRT Sunway, Appaswamy���s Richmond, Sarovar Group���s The Promenade) with good eating joints, there are few good standalone restaurants. And absolutely no established names in the fast-food segment,��� a hospitality industry expert told ET.