Subway India operator EverBrands raises $15 Mn led by Playbook Partners

EverBrands, operator of Subway and Lavazza in India, has raised a $15 million round led by Playbook Partners. 

The fresh capital will be used to strengthen its multi-brand food and beverage platform and support further expansion across India. 

An ET report said that Playbook Partners will acquire a 5% stake in Subway India’s parent, valuing the company at around Rs 2,600–2,800 crore.

The investment comes as Subway India recently crossed the 1,000-store milestone. The brand has added stores at an average pace of around two outlets per week over the past three years.

EverBrands operates Subway in India through Culinary Brands India Private Limited and also manages Lavazza Coffee, F&H Coffee, and distributes Dilmah Tea in India through Fresh and Honest Café Private Limited.

EverBrands operates across quick service restaurants and café formats, targeting urban consumers.

Founded by former Reliance Jio executive Vikas Choudhury, Playbook Partners focuses on investing in mid-market businesses leveraging technology-enabled growth. The firm was launched by former Reliance Jio executive Vikas Choudhury and invests in scalable businesses across sectors.

This marks Playbook Partners’ third investment in India following the first close of its $250 million fund.