Anagram advises Belgian Waffle Co. and its Founder – Shrey Aggarwal on the sale of a 45% stake, together with other sellers, to VIXAR

The Belgian Waffle Co. and its Founder Shrey Aggarwal have entered into definitive agreements with VIXAR, (formerly Arpwood Partners) for the sale of a significant stake in The Belgian Waffle Co.

The Belgian Waffle Co. is an Indian quick-service restaurant brand founded in 2015. Known for popularising freshly made Belgian-style waffles across the country, The Belgian Waffle Co. has grown into a popular food franchise with 600+ stores across 190+ Indian cities.

Founded in 2015, VIXAR is a private equity fund focused on control investments in India’s mid-market, partnering with family-owned businesses to drive succession, institutional ownership, and long-term value creation.

Anagram Partners acted as the legal counsel to Founder, Shrey Aggarwal, and Belgian Waffle Co. The team was led by our Partner Aditi Tralshawala and comprised Saachi Pilinja and Sourya Chakrabarty.

Read more at:

Vixar picks up 45% in Belgian Waffle, values chain at Rs 1,700 crore