Piveta Estates Buys Majority Stake In Riga Foods
Piveta Estates has bought a majority stake in Riga Foods, which operates a chain of Italian cuisine restaurants and a catering service in Delhi-NCR.
About Riga Foods
Started in 2000 by celebrity chef Ritu Dalmia and Gita Bhalla, Riga Foods operates Italian restaurants in the Delhi-NCR region and a catering service named ‘Diva’.
Restaurants under the Riga Foods banner include ‘Diva’ in Greater Kailash II, and the ‘Diva Cafe in Greater Kailash I.
Expanding Riga Foods
Piveta Estates has acquired a 51% stake in Riga Foods, but the founders of Riga will retain management control.
Riga Foods will use the money that has come in from the purchase to expand. Commenting on the investment, Analjit Singh who owns Piveta Estates said “We intend to be a strategic investor, guiding the organisation through its expansion efforts, both in India and abroad.”