Mangaluru: Jayaram Banan who had founded Sagar Ratna Brand in 1986 - has acquired back the stake which he had sold to a PE Firm in the year 2011. The Private Equity firm which had the controlling stake and Banan mutually agreed that it is in the best interest of Sagar Ratna that Mr Banan need to take control of the company. Pursuant to this understanding the PE has exited and Jayaram Banan has now gained full control and ownership of this popular and established chain of Vegetarian Restaurants through his flagship company namely Ocean Pearl Hotels Private Ltd, said a release from the company.

Sagar Ratna had spread across the country through 36 own stores and 52 Franchisees in 12 states. Mr Banan now has drawn plans to expand by opening more than 100 branches and an equal number of Franchisees in the next 3 years with an aim to make it one of the largest chains of vegetarian restaurants in the country. He is a hands-on restaurateur and is well poised to achieve this goal. He has strategies for revamping the entire existing administration to refurbishment; renovation and expansion with induction of new, experienced and motivated team.

In December 1986 Jayaram Banan ventured into New Delhi, the Capital City of India with his own concept of a Vegetarian South Indian Restaurant called "SAGAR". The opening of the first outlet of SAGAR in the then deserted & sleepy market of Defence Colony changed the fortunes of some 70 odd idle shops in the market. Sagar Ratna expanded horizontally with own branches and franchisee outlets across the length and breadth of the country.