After parting ways with McDonald’s a few years ago, Ascot Hospitality CEO and MD Vikram Bakshi made an investment in the New Delhi-based company AKU’S The Burger Co. The money was transferred through Bakshi’s family office.
“At this time, I am unable to discuss the specifics of the agreement. However, the investment comes with stock and a board membership, according to Bakshi, who spoke to TOI.
Akriti and Ankit Malhotra, the owners of AKU’S, will continue to guide it, according to Bakshi.
The moment is right to improve the burger culture in India, according to Bakshi, a former Indian partner of American fast food giant McDonald’s who oversaw the opening of the US brand’s first Delhi location in the Vasant Vihar neighbourhood in 1996.
“Their (AKU’S) concept resonates with my viewpoint and the current needs of Gen Z and millennials. My expertise and our investment are intended to aid in the brand’s pan-Indian expansion, according to Bakshi.
AKU’S, which offers a variety of burgers, operates two locations in Delhi and a kiosk in Gurgaon’s Cyber hub. It also sells DIY (do-it-yourself) burger kits. Two additional locations will open very shortly, and by the end of the year, Bakshi said, “We hope to be accessible throughout Delhi-NCR.”
Bakshi and McDonald’s had a protracted dispute over ownership of Connaught Plaza Restaurant (CPRL), a joint venture company that both parties had created to franchise McDonald’s restaurants in North and East India. The two parties finally came to an out-of-court deal in 2019, with the US company purchasing Bakshi’s 50% ownership in CPRL. Housing and Urban Development Corporation’s (HUDCO) challenge against the settlement was just dismissed by the Supreme Court.