Latest news with #BiryaniByKilo
Time of India
16 hours ago
- Business
- Time of India
Investors seek a bite of food & beverages pie
AI image MUMBAI: A lot is happening over food. From Theobroma to Haldiram's and Biryani By Kilo, investors (investment firms and corporates alike) are lining up to take a bite of India's food (captures packaged food as well as food services like QSR) and beverages (F&B) space. A broader sluggishness in consumption had slowed down the pace of deal closures; Haldiram's and Theobroma, for instance, were in the works for a long time, but the appetite to partake of India's consumption story remains high, and deal counters seem to be buzzing. Investors are evaluating brands (deals could be in the form of funding or acquisitions of significant stakes) such as Nik Baker's and Wow! Momo, an industry source said. "There is also a QSR pizza chain based in the North which has seen some interest from investors. In the packaged food space, almost a dozen deals are in the pipeline in the ready-to-eat/ready-to-cook segments," the source said. Fireside Ventures has a very strong pipeline of food deals, partner Dipanjan Basu told TOI, whereas Belgian investor Verlinvest, which has backed brands like Blue Tokai Coffee Roasters, Lahori Zeera, and Epigamia, is set to pump in fresh follow-on funds in its existing food companies in addition to new deals, taking the total amount of India investments this year to more than the targeted $100 million. "For global investors looking to invest in India, consumer and healthcare must be on the shopping list! There is interest in performing companies, and the next couple of years should augur well for consumption given the tax breaks and factors such as the reduction in import duty for edible oil, etc. ," said Arjun Anand, managing director and head of Asia at Verlinvest. Earlier this year, Temasek, IHC (International Holding Company), and Alpha Wave Global acquired minority stakes in Haldiram Snacks Food, valuing the family-owned company at $10 billion. KFC operator Devyani International acquired a majority stake in Biryani By Kilo's parent, Sky Gate Hospitality, while most recently, ChrysCapital closed a deal to acquire a majority stake in bakery chain Theobroma Foods. Another brand, The Belgian Waffle Co., has been in the market for at least a year now, although sources have indicated that the deal is now potentially looking like a minority stake acquisition compared to a majority transaction before. "India's food space is a large industry with an attractive growth profile based on the shift from unorganised to organised. With an increase in disposable income and convenience-led multiple food options via food aggregators, Indians are eating out and ordering food more than before. "This has given opportunity to many homegrown brands to scale. As private equity investors, our endeavour is to discover market leaders that are growing at 1.5-2 times the industry growth rate," said Rajiv Batra, director and leads, investment opportunities, consumer sector at ChrysCapital. In the QSR space, interest is typically to back pan-India brands, while in the packaged food segment, regional brands are equally being looked at by investors. "In QSR, unit economics and TAM (total addressable market) are generally more attractive than the casual dining space, where returns on investments have been tepid. Investors made good returns in the QSR space," said Mayank Rastogi, markets leader, strategy and transactions practice at EY. In the food services space, IPOs have largely been the mode of exit, while in packaged food, M&A is a big theme. "FMCG players are hungry for acquisitions," Rastogi added. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
24-06-2025
- Business
- Economic Times
Devyani International shares in focus on additional stake acquisition in Biryani by Kilo for Rs 106 crore
Shares of Devyani International Ltd (DIL) will be in focus on Tuesday, June 24, after the company announced plans to acquire an additional stake in Sky Gate Hospitality, the parent company of Biryani By Kilo, for up to Rs 106.25 crore. ADVERTISEMENT The acquisition will be carried out through a combination of subscribing to new equity shares and purchasing shares from the promoter group. This is expected to increase Devyani's stake in Sky Gate from the current 80.72% to 86.13% on a fully diluted basis. In an exchange filing, the company confirmed that it has executed a share subscription agreement and shareholders' agreement with Sky Gate and its promoters, along with a share purchase agreement to acquire the additional stake in one or more tranches. Devyani International stated that the move aims to facilitate further investments in Sky Gate and its subsidiaries—Blackvelvet Hospitality, Say Chefs Eatery, and Peanutbutter and Jelly Private Limited—while also supporting general corporate transaction, which has been undertaken on an arm's length basis, is expected to be completed on or before July 31, Gate operates multiple food and beverage brands, including Biryani By Kilo, Goila Butter Chicken, The Bhojan, Get-A-Way, and Krazy Kebab Co. ADVERTISEMENT For the financial year ending March 31, 2025, Sky Gate reported an unaudited consolidated turnover of Rs 277 crore (excluding a few subsidiaries). Since its incorporation in July 2015, the company has posted consistent revenue growth, rising from Rs 133 crore in FY22 to Rs 277 crore in FY25 (unaudited), highlighting its growing presence in India's food and beverage sector. On Monday, shares of Devyani International closed flat at Rs 166.75 on the BSE. ADVERTISEMENT Also read: Is the grey market premium misleading? Decoding the valuation gap in HDB Financial's IPO (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
24-06-2025
- Business
- Time of India
Devyani International shares in focus on additional stake acquisition in Biryani by Kilo for Rs 106 crore
Devyani International will be in focus on June 24 after announcing plans to acquire an additional stake in Sky Gate Hospitality, parent of Biryani By Kilo, for up to Rs 106.25 crore. The deal, via a mix of fresh equity and promoter stake purchase, will raise Devyani's holding from 80.72% to 86.13% on a fully diluted basis. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Devyani International Ltd (DIL) will be in focus on Tuesday, June 24, after the company announced plans to acquire an additional stake in Sky Gate Hospitality , the parent company of Biryani By Kilo , for up to Rs 106.25 acquisition will be carried out through a combination of subscribing to new equity shares and purchasing shares from the promoter group. This is expected to increase Devyani's stake in Sky Gate from the current 80.72% to 86.13% on a fully diluted an exchange filing, the company confirmed that it has executed a share subscription agreement and shareholders' agreement with Sky Gate and its promoters, along with a share purchase agreement to acquire the additional stake in one or more International stated that the move aims to facilitate further investments in Sky Gate and its subsidiaries—Blackvelvet Hospitality, Say Chefs Eatery, and Peanutbutter and Jelly Private Limited—while also supporting general corporate transaction, which has been undertaken on an arm's length basis, is expected to be completed on or before July 31, Gate operates multiple food and beverage brands, including Biryani By Kilo, Goila Butter Chicken, The Bhojan, Get-A-Way, and Krazy Kebab the financial year ending March 31, 2025, Sky Gate reported an unaudited consolidated turnover of Rs 277 crore (excluding a few subsidiaries). Since its incorporation in July 2015, the company has posted consistent revenue growth, rising from Rs 133 crore in FY22 to Rs 277 crore in FY25 (unaudited), highlighting its growing presence in India's food and beverage sector On Monday, shares of Devyani International closed flat at Rs 166.75 on the BSE.
Reuters
23-05-2025
- Business
- Reuters
KFC India operator Devyani widens losses in fourth quarter as expenses bite
May 23 (Reuters) - Devyani International ( opens new tab, which operates KFC and Pizza Hut restaurants in India, posted a wider loss in the fourth quarter on Friday, as rising costs took a toll. The franchisee reported 147.4 million Indian rupees ($1.7 million) in consolidated net loss for the three months ended March 31, compared to a loss of 74.7 million rupees a year ago. It booked an impairment charge of 135.7 million rupees but did not disclose any further details. The company's expenses surged nearly 13.5% due to higher costs for key ingredients like cheese and palm oil, alongside a significant jump in employee costs. Global fast-food chains like KFC, McDonald's, Domino's and Pizza Hut, are rolling out pocket-friendly pizzas and burgers in the world's fastest-growing economy, where consumers are curbing discretionary spending due to rising costs of living and sluggish wage growth. Cheaper items on the menu and store additions over the last year paid off as revenue from operations rose nearly 16% to 12.13 billion rupees in the reported quarter. Pizza Hut's same-store sales grew 1%, while that of KFC outlets declined 6.1%, even though it was an improvement compared to last year's 7.1% drop. Devyani, which also operates Costa Coffee stores, now has 2,039 restaurants across geographies including, India, Nigeria, Nepal and Thailand. Last month, the company acquired a controlling stake in Sky Gate, which owns the popular brand "Biryani By Kilo". ($1 = 85.6600 Indian rupees)
Time of India
25-04-2025
- Business
- Time of India
KFC operator buys BiryaniByKilo co
KFC operator buys BiryaniByKilo co Devyani International , which operates chains such as KFC , Pizza Hut, and Costa Coffee through franchise agreements, on Thursday said it will acquire up to 80.7% stake in Sky Gate Hospitality , which owns brands including Biryani By Kilo , Goila Butter Chicken , and The Bhojan, for Rs 419.6 crore. Stay informed with the latest business news, updates on bank holidays and public holidays . Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
