Date: 2026-05-20Category: Press ReleaseState: Union GovernmentCountry: India
CCI approves the acquisition of a certain stake of Restaurant Brands Asia Limited (Target) by Lenexis Foodworks pvt Ltd (LFPL), Aayush Agrawal Trust (AAT), Inspira Foodworks (IFPL), Aayush Madhusudan Agrawal (AMA), and Inspira Agro Trading LLC (IATL)
**Summary of CCI Approval: Acquisition of Restaurant Brands Asia Limited**
On May 20, 2026, the Competition Commission of India (CCI) issued an approval for the acquisition of a specific stake in Restaurant Brands Asia Limited (the "Target") by a consortium of five acquirers.
**Acquiring Entities**
The acquisition is being undertaken by the following parties:
* **Lenexis Foodworks Private Limited (LFPL):** A quick service restaurant (QSR) operator managing brands such as ‘Chinese WOK’, ‘The Momo Co’, and ‘Big Bowl Co’ across India.
* **Aayush Agrawal Trust (AAT):** A discretionary private trust established under the Indian Trusts Act, 1882. It serves as the primary investment vehicle for Aayush Madhusudan Agrawal and his family.
* **Inspira Foodworks Private Limited (IFPL):** A vehicle intended for strategic investment and operations, specifically focusing on expanding LFPL’s QSR business.
* **Aayush Madhusudan Agrawal (AMA):** An individual entrepreneur with interests in premium real estate, QSR chains, pharmaceuticals, luxury home products, and clean energy.
* **Inspira Agro Trading LLC (IATL):** A United Arab Emirates-based company engaged in the cardamom trading business.
**The Target Entity**
**Restaurant Brands Asia Limited** serves as the national master franchisee for the Burger King brand in India. It holds exclusive rights to develop, operate, and franchise Burger King restaurants throughout the country.
**Transaction Details**
The proposed combination is structured through a multi-step process including:
* Equity subscriptions
* Warrant subscriptions
* Equity purchases
* An open offer
**Administrative Information**
* **Release ID:** 2263414
* **Posted By:** PIB Delhi
* **Date/Time:** 20 MAY 2026, 7:44 PM
* **Visitor Counter:** 86
* **Note:** A detailed order from the Commission regarding this approval is expected to follow.
Key Entities Referenced
Competition Commission of India (CCI): The national regulatory body that granted approval for the acquisition of a stake in Restaurant Brands Asia Limited.
Restaurant Brands Asia Limited: The target entity of the acquisition, serving as the national master franchisee with exclusive rights to operate Burger King restaurants in India.
Lenexis Foodworks Private Limited (LFPL): A lead corporate acquirer and operator of quick service restaurant brands such as ‘Chinese WOK’ and ‘The Momo Co’.
Aayush Madhusudan Agrawal (AMA): The individual entrepreneur and sole trustee of the Aayush Agrawal Trust (AAT) driving the multi-entity acquisition.
Indian Trusts Act, 1882: The governing legislation under which the Aayush Agrawal Trust (AAT), a primary investment vehicle in the transaction, is settled.
Competition Commission of India
CCI approves the acquisition of a certain stake of
Restaurant Brands Asia Limited (Target) by
Lenexis Foodworks pvt Ltd (LFPL), Aayush
Agrawal Trust (AAT), Inspira Foodworks (IFPL),
Aayush Madhusudan Agrawal (AMA), and Inspira
Agro Trading LLC (IATL)
Posted On: 20 MAY 2026 7:44PM by PIB Delhi
The Competition Commission of India (CCI) has approved the acquisition of a certain stake of Restaurant
Brands Asia Limited (Target) by Lenexis Foodworks Private Limited (LFPL), Aayush Agrawal Trust
(AAT), Inspira Foodworks Private Limited (IFPL), Aayush Madhusudan Agrawal (AMA), and Inspira
Agro Trading LLC (IATL).
The Proposed Combination involves the acquisition of a certain stake of the Target by LFPL, AAT, IFPL,
AMA, and IATL, through various steps involving equity subscriptions, warrant subscriptions, equity
purchases, and an open offer.
LFPL is engaged in the quick service restaurant (QSR) business and operates restaurants pan India under
the brands ‘Chinese WOK’, ‘The Momo Co’, and ‘Big Bowl Co’.
AAT is a discretionary private trust settled under a trust deed in accordance with the provisions of the
Indian Trusts Act, 1882. AAT is the primary investment vehicle for AMA and his family and is managed
and operated by AMA as the sole trustee thereof.
IFPL is proposed to serve as a strategic investment and operating vehicle, focusing on the expansion of the
existing QSR business of LFPL.
AMA is an individual entrepreneur present across sectors, including premium real estate, QSR chains,
pharmaceuticals, luxury home products, and clean energy.
IATL is engaged in the business of trading cardamom in the United Arab Emirates.
The Target is the national master franchisee of the Burger King brand and holds exclusive rights to
develop, operate, and franchise ‘Burger King’ restaurants across India.
Detailed order of the Commission will follow.
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NB/ONP
(Release ID: 2263414) Visitor Counter : 86
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