Nepal's CG Foods, makers of the popular Wai Wai noodles, plans to invest Rs 250 crore in India to open quick service restaurants (QSRs) in next 5 years.
CG Corp Global, which plans to open 1,500 noodle bars across the world under the brand 'Wai Wai City', has partnered with Franchise India to roll out stores in India.
However, the company did not specify the number of outlets it will open in the country.
"With this new format, we offer...whole new world of taste and flavours. For us this is the beginning of an exciting journey," CG Corp Global Executive Director Varun Chaudhary said.
Wai Wai City will be spread across various formats food courts, self-standing kiosks, standalone outlets, highway format etc, he added.
Yesterday, CG Foods announced a foray into the European market by opening its first manufacturing plant in Serbia.
Positioned strategically at Ruma in Serbia in Central Europe, the Wai Wai plant will help the company cater to the neighbouring countries. With this plant, CG Foods' total units producing Wai Wai noodles has gone up to 15, of which 8 are based in India.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
