Atelier Expressions, the premium lifestyle investment platform of the Singapore-based TVS VENU group, has signed a definitive agreement to acquire a majority stake in Lonestar Hospitality Private Limited, the parent entity behind New Delhi-based luxury handcrafted mithai brand Khoya.
Transaction & Operational Architecture
While the financial terms and exact deal valuation remain undisclosed, the core framework of the acquisition outlines a clear growth strategy:
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Timeline: The transaction is subject to customary closing conditions and is slated for completion by the end of August 2026.
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Management Continuity: Khoya’s founder, Sid Mathur, will retain full operational and execution responsibility, continuing to lead the existing team.
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Strategic Intent: The partnership is structured to scale Khoya’s distribution network across India, roll out new collaborative offerings, and leverage TVS VENU’s institutional backing (which clocked roughly $6.5 billion in revenue for FY26).
Rethinking Indian Confectionery
Founded in 2016 by Sid Mathur (formerly associated with Impresario Group, where he helped shape brands like Social and Smoke House Deli), Khoya was developed in tandem with food historians and academicians. The brand targets high-end retail and corporate gifting spaces by blending traditional recipes with premium ingredients and contemporary design. Its portfolio includes artisanal traditional mithai, chikki, mukhwas, and premium savory snacks, currently distributed via its direct-to-consumer (D2C) digital channels and luxury retail outlets across Delhi.
Expanding a Curated Portfolio
Led by Executive Director Tara Venu, Atelier Expressions focuses on backing high-growth artisanal businesses that hold distinct cultural value. Khoya joins a growing international luxury and lifestyle portfolio that already includes:
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J.L. Coquet: A historic, 200-year-old French Limoges porcelain maison.
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Khadak: The acclaimed Dubai-based restaurant helmed by chef Naved Nasir.
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Hedon: A London-based designer of luxury motorcycle helmets.
