FUNDING, MERGERS & ACQUISITION NEWS

This latest funding round, backed by prominent investors including NEA, Accel, and Google Ventures, brings the company’s total funding to over US$2 billion and its valuation to more than US$7 billion.

The US$1.2 billion all-cash transaction is expected to close in the second half of 2025, pending regulatory approvals and customary closing conditions.

As part of the acquisition, the brand’s existing and pipeline hotels will enter into new long-term franchise agreements with Marriott, while the properties will remain owned and leased by the seller.

Deliveroo’s board has expressed its intention to recommend the offer to shareholders, contingent upon agreeing on final terms. DoorDash has until May 23 to submit a formal bid.

The company, best known as the parent of Faasos and Behrouz Biryani, is reportedly set to channel recent funding into the expansion of its physical restaurants and food courts, adopting a more omnichannel approach.

Nine of the newly acquired properties were formerly part of the Hotel Campanile portfolio and are spread across key business and leisure destinations including Birmingham, Bradford, Dartford, Leicester, Liverpool, Manchester, Northampton, Milton Keynes, and Swindon.

This expansion focuses on three key pillars: strengthening Kempinski’s Chinese Heritage Portfolio, launching a new lifestyle brand tailored to Chinese consumers, and elevating the NUO brand as a global benchmark in culturally rich luxury hospitality.

Eligible companies must be less than three years old, generate under US$1 million in annual revenue, employ between two and 30 people, and have secured between US$450,000 and US$500,000 in seed or early-stage funding.

Despite the sale, IMC’s market capitalization remains below the valuation of its KFC operations, currently standing at approximately US$55 million.