New Delhi, Sept. 16 -- L Catterton, a global consumer-focused investment firm, will invest in Nandhana Foods, a restaurant group specializing in South Indian cuisine, the companies said in a statement on Wednesday.

The deal size is pegged at about $30 million ( Rs.288 crore) for a minority stake in the company, a person familiar with the matter said. In May, Mint first reported on the round, expected at a valuation of about Rs.2,000 crore.

The investment will support Nandhana's next phase of growth and enable the group to achieve greater scale by leveraging L Catterton's industry expertise and operating capabilities.

"Nandhana Foods' founding family has built a distinctive and scalable business with a strong consumer proposition and at...