Cyril Amarchand Mangaldas advises Coca-Cola India on acquisition of minority stake in Thrive

Cyril Amarchand Mangaldas advised Coca-Cola India Private Limited (Coca-Cola India) on acquisition of a minority stake of 15% in Hashtag Loyalty Private Limited (Thrive). Thrive is a Mumbai-based food-tech company that offers a modern ordering system for restaurants to set up their direct ordering platform. Thrive has also launched beta version of its discovery platform and consumer application that offers customers a unique food discovery and ordering experience. Currently, over 14,000 restaurants across 80 cities in India use Thrive.

The General Corporate Practice of Cyril Amarchand Mangaldas advised Coca-Cola India on the transaction. The scope of work included regulatory advisory; conducting due diligence on the business of Hashtag; negotiating and aligning interests of the existing investors and Coca-Cola India; and drafting the transaction documents. The transaction team was led by Akila Agarwal, Partner& Head – Merger &Acquisition; and Mukul Sharma, Partner; with support from Neham Tayal, Principal Associate; and Shreya Teewari, Udyan Shrivastava, Aakanksha Bhardwaj, and Anushka Sharma, Associates.

Team led by partners Arun Prabhu and Anirban Mohanpatra, with support from Mahim Sharma and Soumya Tiwari, Associates; assisted on the IP-IT aspects of the transaction.

Luv Saggi, Senior Associate; Himaa Sudhir, Associate; assisted with employment law aspects of the transaction.

Vijay Pratap Singh Chauhan, Partner; advised on the competition law aspects of the transaction.

The Transaction was signed and closed on 17th April 2023.