Industry News | October 7, 2012
BIP Buys Stake in Tin Drum AsiaCafe
Atlanta-based BIP Opportunities Fund LP (BIP) announced that it is taking a minority interest in the rapidly growing Pan Asian fast-casual chain Tin Drum AsiaCafé.
The investment in Tin Drum, also based in Atlanta, will provide the necessary capital to fuel the emerging brand’s expansion strategy announced in early 2012.
Founder and CEO Steven Chan began franchising Tin Drum, his popular Asian-street food concept, in 2011 and expects to double the company’s corporate and franchise unit base by the end of 2012.
Tin Drum is actively pursuing franchisees in the southern states of Georgia, Alabama, Tennessee, Florida, and the Carolinas.
“Consumers want the fresh, made-to-order menu options that Tin Drum provides,” says Scott Pressly, BIP partner. “We feel the company has broad appeal and is well positioned for significant growth in the fast-casual Asian segment.”
Tin Drum features more than 35 menu items made with Thai, Japanese, Chinese, Vietnamese, and Indian influences and 15 authentic sauces.
The chain also offers a wide variety of options to help manage special diets, including a gluten-free menu. Tin Drum is certified by Healthy Dining Finder and offers guests SmartMenu kiosks by UsableHealth, the only self-ordering system to customize meals based on dietary needs and taste preferences.
“Healthy, authentic Asian cuisine served up quickly is what we strive for,” Chan says. “The BIP investment will help us meet this demand at a faster rate, by attracting new franchisees, developing company stores, and investing in our infrastructure.”
Food & Beverage
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