MTR Sold out – 443 Crores!!

The Mavalli Tiffin Rooms (MTR) of the earstwhile Bangalore era is shortly no more. Reportedly the company has been sold out by the Maiya group for a whooping 443 crores as latest reports came in.

Norway based company which has purchased the same is very interested in piggy backing its own offerings using the MTR distributor channel. They also plan to introduce the famous MTR brand abroad.

Its not clear as to what would be the fate of the MTR brand (chain) of hotels run by one of the brothers. Would it go away too?

Interestingly the MTR spoksmen were not around for comments. Last quarter an American company tried to buy it out but deal fell through due to tussle of management issues.

So there goes our vada, idli, masala dosa, upma et all global. The side effect is we are going to boost some foregin economy when we have our staple diet at MTR. Long live the global village!


14 Responses to MTR Sold out – 443 Crores!!

  1. Vijay says:

    Mohan: Nice post.. I never looked at this from the view of boosting Norway’s economy šŸ™‚

    Interesting thought… By the way I am blogrolling you..

  2. Vijay
    Thanks for blog rolling. You are already blogrolled šŸ™‚

    It was our friend veena who gave me this idea while talking about jobs/economies in another forum.

  3. Veena says:

    Enri idu ibrunu ideas itkondu sale maadthaa ideera ? namma idli dose nella ?

    Well, MTR was a good eat out place & I am happy that the restaurant is a separate business. Other ready to eat & those mixes for the faster preparation.. Hope we continue getting them even after this take over.. I am anyway among the least affected community. We still have those ‘pudi’s’ prepared at home, just with a difference that I have a mixi but MIL had that oLakallu or beeso kallu what ever šŸ˜‰

    Vijay, it was a discussion about why I don’t want to join MNC etc., which is avaialble at Muktha balaga, mohan’s funda section!
    Mohan, enri idu ond ond sala kattaleli kallu hodidre, maavinakaayi udrutte ?

  4. M O H A N says:

    It was news for both of us šŸ™‚

    It does not mean you wont get their packaged delights anymore. But any body who buys the same adds to Norways economy!!

    Maavinakayyi elle nimma ashirwada!

  5. Veena says:

    NEWS has reference to what here ? šŸ™‚ Let me be on the safer side before I submit my comment.. Otherwise you will make you speak like a lady with anger! šŸ™‚

  6. M O H A N says:

    NEWS andre as in newspaper!!! [ North, East , West, South ]

    Lady with anger – do speak up šŸ™‚

  7. some body says:

    “The side effect is we are going to boost some foregin economy when we have our staple diet at MTR.”

    … just like corus cauveries into tata (slick analogy that, eh?)! you cannot have your dosa and eat it too. šŸ™‚

    – s.b.

  8. Welcome Some Body.
    Good point in this era of Global village. Do visit again.

  9. M O H A N says:

    ** UPDATE ***
    The management of MTR confirms the deal. They are holidng 52% stake. Its not clear at this point who has sold out their share wetehr its the maiya family or the other 48% holders.

    The norway based company has announced that there would be neither immideate offers piggy backing on MTR distributors or change in management.

  10. blr-creature says:

    >The side effect is we are going to boost some foregin economy when we have our staple diet at MTR.

    I’m sorry to say I found that very short sighted.
    It would have an effect on the Indian economy too — what about the costs of sourcing of the food, paying factory workers, other employees…

    How about sales to other countries? Won’t part of the revenues trickle down to India where it is produced in the first place?

    What if the British had the same attitude while drinking Tetley tea or consuming Tata-Corus steel?

  11. Welcome blr-creature

    The point is a local baron (maiyya) using local grains using local people, paying local taxes, local consumers…. In fact there was limited foregin exchange earnings too.

    BUT, the whole picture is the same except the local baron is replaced with a foregin baron ( A local capitalist replaced ) who would make the plum of the money is the roosting point.

    Obviously this is why TATA is buying tea, steel apart from other business reasons. Let me for a moment discount that foregin exchange earned increases due to abroad popularity.

    The fine grain of a local paying in britain for tata tea is as absurd as masala dosa consumed in bangalore is.

  12. vijaysv says:

    The Government today swung into action to tame the rising inflation rate, which stands at a new 2-year high.

    Close on the heels RBIs CRR hike of 50 basis points, Government reduced the fuel prices. While petrol rates have been cut by Rs 2, diesel will cost Rs 1 less

  13. Vijaysv
    Welcome. You are problably left the post at wrong place!
    This is related to petrol/diesel hike. This is an eye wash. If they are really interested in us they should remove the 16% entry sales tax. Think of paying 23 Rs per litre petrol instead of 50.68?

    Inflation does not get controlled by this since all manufacturers who hiked the rates will not do the same – so much for inflation.

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