Cyril Amarchand Mangaldas advised Coca-Cola India Private Limited (Coca-Cola India) on acquisition of a minority stake of 15% in Hashtag Loyalty Private Limited (Thrive). Thrive is a Mumbai-based food-tech company that offers a modern ordering system for restaurants to set up their direct ordering platform. Thrive has also launched beta version of its discovery platform and consumer application that offers customers a unique food discovery and ordering experience. Currently, over 14,000 restaurants across 80 cities in India use Thrive.
The General Corporate Practice of Cyril Amarchand Mangaldas advised Coca-Cola India on the transaction. The scope of work included regulatory advisory; conducting due diligence on the business of Hashtag; negotiating and aligning interests of the existing investors and Coca-Cola India; and drafting the transaction documents. The transaction team was led by Akila Agarwal, Partner& Head – Merger &Acquisition; and Mukul Sharma, Partner; with support from Neham Tayal, Principal Associate; and Shreya Teewari, Udyan Shrivastava, Aakanksha Bhardwaj, and Anushka Sharma, Associates.
Team led by partners Arun Prabhu and Anirban Mohanpatra, with support from Mahim Sharma and Soumya Tiwari, Associates; assisted on the IP-IT aspects of the transaction.
Luv Saggi, Senior Associate; Himaa Sudhir, Associate; assisted with employment law aspects of the transaction.
Vijay Pratap Singh Chauhan, Partner; advised on the competition law aspects of the transaction.
The Transaction was signed and closed on 17th April 2023.
About Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas (cam) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations. With 1000 lawyers and 160 Partners, the Firm is the largest full-service law firm in India and offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and also in Singapore.
The Firm recently received “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards and the “National Law Firm of the Year: India” award at the IFLR Asia Pacific 2022 awards ceremony. The Firm had won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2021.
