Mangaluru, May 22, 2017: Jayaram Banan who had founded Sagar Ratna Brand in 1986 - has acquired back the stake which he had sold to a PE Firm in the year 2011. The Private Equity firm which had the controlling stake and Mr. Banan mutually agreed that it is in the best interest of Sagar Ratna that Mr Banan need to take control of the company. Pursuant to this understanding the PE has exited and Jayaram Banan has now gained full control and ownership of this popular and established chain of Vegetarian Restaurants through his flagship company namely Ocean Pearl Hotels Private Ltd, said a release from the company.
Banan’s name has been synonymous with Sagar Ratna and he was always emotionally attached to it since its establishment more than two and half decades ago. Today he has regained the brand and his happiness has no bounds.
Sagar Ratna had spread across the country through 36 own stores and 52 Franchisees in 12 states. Mr Banan now has drawn plans to expand by opening more than 100 branches and an equal number of Franchisees in the next 3 years with an aim to make it one of the largest chains of vegetarian restaurants in the country. He is a hands-on restaurateur and is well poised to achieve this goal. He has strategies for revamping the entire existing administration to refurbishment; renovation and expansion with induction of new, experienced and motivated team.
Banan is confident that he will take Sagar Ratna to greater heights and make it one of the best Vegetarian Brands in the country.
In December 1986 Jayaram Banan ventured into New Delhi, the Capital City of India with his own concept of a Vegetarian South Indian Restaurant called "SAGAR". The opening of the first outlet of SAGAR in the then deserted & sleepy market of Defence Colony changed the fortunes of some 70 odd idle shops in the market. Sagar Ratna expanded horizontally with own branches and franchisee outlets across the length and breadth of the country.
The hard work, commitment to ensure excellent quality at all costs always backed by quick and efficient service enabled the growth of ’Sagar Ratna’ as the best Brand of a chain of vegetarian Restaurants in North India. It established an identity of its own and is reputed for high quality delicious food; quick, homely and personalized service; utmost hygienic atmosphere; Excellent upkeep of its premises & affordable pricing.