Navis Sells Nirula’s to Indian Hospitality Group A2Z Excursions (Asia)

Source: Asian Venture Capital Journal  |  Author: Susannah Birkwood

Malaysia-based private equity firm Navis Capital Partners has sold its 100 percent stake in Indian restaurant chain Nirula’s Corner House through a strategic sale to A2Z Excursions, an India-based hotel, travel and real estate group, for an undisclosed amount. Navis Capital Partners purchased a controlling stake in Nirula’s in 2006 and made subsequent investments in 2010 and 2012. The sale marks Navis’s second exit in India in two weeks, following the sale of its majority stake in Andromeda Sales and Distribution, a financial products distributor.