Food tech platform Ghost Kitchens acquires Speak Burgers brand

Food tech platform Ghost Kitchens India has acquired television host and chef Vicky Ratnani’s gourmet cloud kitchen Speak Burgers, a strategic acquisition the company said would help it gain a new customer segment with high spending power.

Karan Tanna, founder and chief executive of Ghost Kitchens said in a statement: “With our presence in 40 cities, we have gaps in supply of premium brands, which we will quickly fill through this collaboration.”

Ratnani, founder of Speak Burgers, will join Ghost Kitchens India as chief culinary officer and co-founder. Speak Burgers plans to serve from over 200 locations in the next three years through fulfilment partner programmes, the company said in a statement. Currently, Ghost Kitchens has over 160 fulfilment partners in over 40 cities for its own brands, and works with over 110 partners, it said.

"This will be in line with Ghost Kitchen’s vision to build premium food delivery brands listed on delivery aggregators like Swiggy and Zomato,” the company, which has an existing portfolio of over 30 restaurant brands, said.

Ghost Kitchens will also launch three new brands with Ratnani across the mass premium and cloud kitchen segments, which it said it give it scale to add over 400 new fulfillment partners over a three-year window.

The company said in the statement that it has an existing annual run rate of GMV of Rs 60 crore as on December 2022, and that within a year it plans to scale up to more than 4,000 internet restaurants taking its annual run rate Rs 500 crore by 2024-end.