Bodhi Tree Systems has acquired a majority stake in Chennai-based restaurant chain Adyar Ananda Bhavan (A2B) for $180 million, marking a significant investment in India’s food services industry. The strategic partnership is aimed at accelerating A2B’s expansion in domestic and international markets while strengthening its restaurant and packaged food businesses.
Founded in 2021 by James Murdoch and Uday Shankar, former President of The Walt Disney Company Asia Pacific and former executive at Star India, Bodhi Tree Systems is an investment and operating platform focused on building consumer-facing businesses in India.
The investment is expected to support A2B’s long-term growth plans, including upgrading its kitchen infrastructure, strengthening leadership capabilities and expanding its digital operations. The partnership will also focus on introducing healthier food options, improving operational standards and scaling its restaurant and packaged food offerings across markets.
A2B has established a strong presence in India’s South Indian food segment, with a network of approximately 160 outlets across India and 30 international outlets. The company employs more than 15,000 people and has built its presence across markets including Tamil Nadu and Karnataka, while expanding its international operations in Singapore, the United States, Australia, Malaysia and the United Kingdom.
The investment will provide A2B with additional strategic and operational support to expand its established food brand into newer markets and reach a wider customer base.
Uday Shankar will serve as the chairperson of A2B’s newly constituted board. Commenting on the partnership, Shankar highlighted the opportunity to work with A2B’s founders, K.T. Srinivasa Raja and K.T. Venkatesan, to build a professionally managed Indian food company with a wider global presence. He also acknowledged the brand’s established reputation and consistent product quality.
For Bodhi Tree Systems, the A2B investment marks another addition to its portfolio. The platform previously acquired a 36% stake in Allen Career Institute in 2022 for $600 million and became a strategic investor in JioStar in 2023.
The transaction involved several financial, legal and advisory firms. Veda Corporate Advisors acted as the sole financial advisor to A2B, with Khaitan & Co serving as its legal counsel. Bodhi Tree Systems received financial and tax due diligence support from EY, commercial due diligence services from Alvarez & Marsal, legal counsel from Trilegal and financial advice from Moelis & Company.
Founded by K.T. Srinivasa Raja and K.T. Venkatesan in the 1970s, A2B has grown from its South Indian food roots into a recognised restaurant and packaged food brand. The partnership with Bodhi Tree Systems is expected to support its next phase of growth through investments in infrastructure, technology, leadership and market expansion.
-By Aakriti Jaiswal
