The world’s largest chain of Japanese-style-curry restaurants named “Curry House CoCo Ichibanya” is entering India with its first outlet in New Delhi in early 2020.
Mitsui & Co. and ICHIBANYA Co. Ltd. have entered into a joint venture agreement with 60:40 equity shareholding to open the Japanese-style-curry restaurants named “Curry House CoCo Ichibanya” in India.
With 60 percent equity shareholding in the newly formed JV, Mitsui will be stepping into the restaurant business in India for the first time after more than 50 years of presence in India. Having progressive plans of expanding into major cities of India, Mitsui and ICHIBANYA plan to open 30 restaurants in the New Delhi area in the first 10 years.
Phoenix Legal’s Partner, Pranav Srivastava along with Senior Associate, Aniket Singhania led the transaction and advised Mitsui on the joint venture agreement and on setting up the joint venture entity in India.
