Bikaji Foods International Ltd.’s wholly owned subsidiary Bikaji Foods Retail Ltd. (BFRL) said it will acquire 53.02% stake in Hazelnut Factory Food Products Private Ltd., a cafe-cum- artisanal sweets brand based in Lucknow for 131.01 crore.
“This investment will be done in tranches and is expected to be completed in next 2 years. Through this acquisition, Bikaji aims to set up a House of Brands to cater to unique customer tastes and preferences and establish Bikaji as a key player in the Quick Service Restaurant (QSR) domain,” the company said.
Deepak Agarwal, MD of Bikaji Foods International said, “This acquisition marks a significant step in Bikaji’s journey to expand beyond traditional ethnic snacks and enter into retail QSR, premium artisanal sweets and bakery segment.
“This strategic move not only marks our entry into the high-growth QSR sector but also aligns with our vision to build a ‘House of Brands’. By integrating THF’s premium offerings and Bikaji’s manufacturing capabilities, we aim to cater to unique customer tastes and preferences, establishing Bikaji as a key player in the QSR space.”
Published – October 16, 2024 11:34 pm IST
