Devyani International to acquire majority stake in 'Biryani by Kilo'
Devyani International Ltd (DIL), a major franchisee for KFC, Pizza Hut, and Costa Coffee, stated that its board is scheduled to meet and approve the proposal on April 24.
Devyani International Ltd, which operates quick service restaurant chains such as KFC, Pizza Hut, and Costa Coffee through franchise agreements, has announced its plan to acquire homegrown chain 'Biryani by Kilo'.
The Jaipuria family-promoted Devyani International Ltd (DIL) will acquire a majority stake in Sky Gate Hospitality, which operates restaurants under the 'Biryani by Kilo' brand, along with other brands, according to a regulatory filing.
Though it has not disclosed the number of shares or the acquisition price, the company stated that its board is scheduled to meet and approve the proposal on April 24.
"We wish to inform you that a meeting of the Board of Directors of the Company is scheduled on Thursday, April 24, 2025 inter-alia, to consider and approve the definitive agreements and issuance of equity shares of the company on a preferential basis to discharge the consideration payable for acquisition of controlling equity stake in Sky Gate Hospitality Private Limited, operating restaurants under the brand 'Biryani by Kilo' and other brands," it said.
Besides its biryani delivery chain, Sky Gate Hospitality also operates cloud kitchens and a few other smaller brands.
Started in 2015, Biryani & Kebab delivery chain BBK has over 70 dine-in outlets pan India in over cities.
DIL is among the fastest-growing Quick Service Restaurant (QSR) chain operators in the country. It is the largest franchisee for Yum Brands, which owns KFC & Pizza Hut in India. It is also the sole franchisee for Costa Coffee in India, the brand owned by Coca-Cola.
Additionally, it has its own in-house brand, Vaango, which focuses on South Indian vegetarian cuisine.
As of December 31, 2024, DIL has over 900 stores of KFC and over 580 stores of Pizza Hut in India, Nepal, and Nigeria. DIL has over 190 Costa Coffee cafes and over 70 Vaango stores across India.
Edited by Megha Reddy