TVS Venu’s Atelier buys majority in Khoya

A PR Newswire release dated 13 July 2026 said Atelier Expressions, the premium lifestyle platform of TVS Venu, has agreed to acquire a majority stake in Lonestar Hospitality, which runs the luxury mithai brand Khoya. Terms were not disclosed. The transaction is expected to close by the end of August 2026.

Why a mithai brand drew institutional money

Khoya was founded in 2016 by Sid Mathur. It reworks traditional Indian sweets for a contemporary buyer and sells premium mithai, chikki, mukhwas and savoury snacks through its own digital channels and a handful of Delhi retail points. It is small and focused. That is the appeal. Atelier Expressions is building a portfolio of heritage craft businesses, and already holds French porcelain house J.L. Coquet and luxury helmet maker Hedon. Executive director Tara Venu said Mathur has reimagined one of India’s oldest culinary traditions while keeping what makes it special. TVS Venu is not a small buyer. It reported about 6.5 billion dollars in FY26 revenue and operates across more than 90 countries. When a group of that size reaches for a boutique mithai label, the signal is clear. Premium, culturally rooted consumer brands are now acquisition targets, not just niche plays.

The exit map is widening

For founders, the story is the buyer type. India’s D2C consolidation has mostly run through large FMCG firms and roll-up platforms. A global lifestyle house acquiring an Indian sweets brand adds a new kind of acquirer to the map. Mathur framed it as a chance to scale across India and open new collaborations. The lesson for premium D2C brands is that heritage and craft carry real strategic value, and a tightly run brand with a distinct identity can command a strategic exit without first chasing scale.

What an operator does with this

Do not assume your only buyer is a mass FMCG major. Build a brand with a clear cultural point of view and disciplined quality, because that is what strategic acquirers pay a premium for. Keep your books and your story clean enough to survive diligence. A small brand that owns a category feeling is more acquirable than a large one that competes only on price.