5/5 Akhil p. 3 years ago on Google
Café
Coffee
Day
Global
Limited
Company
is
a
Chikkamagaluru-based
business
which
grows
coffee
in
its
own
estates
of
20,000
acres
It
is
the
largest
producer
of
arabica
beans
in
Asia,
exporting
to
various
countries
including
the
U.S.,
Europe,
and
Japan
V.
G.
Siddhartha
started
the
café
chain
in
1996
when
he
incorporated
Coffee
Day
Global,
which
is
the
parent
of
the
Coffee
Day
chain.The
first
CCD
outlet
was
set
up
on
July
11,
1996,
at
Brigade
Road,
Bangalore,
Karnataka.
It
rapidly
expanded
to
other
cities
in
India,
with
more
than
1000
cafés
open
across
the
nation
by
2011.
In
2010,
it
was
announced
that
a
consortium
led
by
Kohlberg
Kravis
Roberts
would
invest
₹10
billion
(US$140
million)
in
Coffee
Day
Resorts,
owned
by
the
company.The
same
year,
the
logo
was
changed
to
the
current
logo,
which
the
company
stated
was
to
showcase
the
chain
as
a
place
to
talk.This
was
done
with
major
changes
in
the
layout
of
the
stores,
including
the
addition
of
lounges
and
a
total
revamp
of
the
interiors.
The
company
is
vertically
integrated
as
per
the
strategy
to
cut
costs:
from
owning
the
plantationsto
growing
the
coffee,making
the
coffee
machinesand
making
the
furniture
for
the
outlets.
On
29
July
2019,
Siddhartha
went
missing,
and
his
body
was
found
in
the
Nethravathi
river
backwaters
two
days
later.
A
letter,
assumed
to
be
written
by
Siddhartha
addressing
the
board
of
directors
and
staff,
was
made
public
in
which
he
takes
responsibility
for
not
creating
a
profitable
business
model.
In
September
2019,
the
company
appointed
auditing
firm
Ernst
and
Young
to
scrutinize
their
books
of
accounts.
They
also
indicated
the
auditor
will
also
look
into
circumstances
of
the
last
letter
written
by
the
founder
and
the
points
he
made
in
it.
In
March
2020,
Coffee
Day
Enterprises
Limited
announced
that
it
has
reached
an
agreement
to
sell
Global
Village
Technology
Park,
a
90-acre
tech
park
on
the
outskirts
of
Bengaluru,
for
a
total
consideration
of
₹
27
billion
for
repaying
the
debt
of
Cafe
Coffee
Day’s
associate
firms
and
their
promoters.