KFC operator Devyani International to acquire majority 81% stake in ‘Biryani by Kilo' parent for ₹420 crore
Quick service restaurant chain operator Devyani International Ltd on Thursday said it will acquire up to 80.72 per cent stake in Sky Gate Hospitality, which operates brands including 'Biryani By Kilo', for ₹ 419.6 crore.
The acquisition includes three brands of Sky Gate -- Biryani By Kilo, Goila Butter Chicken, and The Bhojan.
The company's board in its meeting approved acquisition of up to 80.72 per cent equity stake for ₹ 419.6 crore, on fully diluted basis, in Sky Gate Hospitality Pvt Ltd along with its subsidiaries, Devyani International Ltd (DIL) said in a regulatory filing.
In addition, the company will also pay contingent consideration as per the terms of the transaction documents, DIL said.
DIL operates quick service restaurant chains such as KFC, Pizza Hut, and Costa Coffee through franchise agreements.
Sky Gate along with its subsidiaries owns brands Biryani By Kilo, Goila Butter Chicken and The Bhojan. It predominantly operates through a chain of over 100 outlets including dine-in restaurants in more than 40 cities and is amongst the first ones to introduce the 'handi biryani' concept and deliver freshly prepared biryani, it added.
Post the transaction, Sky Gate will become a subsidiary of the company, the filing added.
"This strategic move aims to enhance DIL's presence in the Indian cuisine segment by integrating these well-established brands into its portfolio," the company said in a statement.
Commenting on the acquisition, DIL Non- Executive Chairman, Ravi Jaipuria said,"While our portfolio boasts a diverse array of national and international brands, we identified a need to add traditional and authentic flavours of the much-loved Indian food to our portfolio."
He further said,"Our partnership with Sky Gate addresses this, bringing their exceptional brands, Biryani By Kilo and Goila Butter Chicken, into our fold. Sky Gate's command over flavours and technique of cooking biryani, has enabled them to deliver high-quality and delectable dishes, making them standout and leader in the industry."
Founded in 2015 by Kaushik Roy and Vishal Jindal, Sky Gate has emerged as a strong player in India's food delivery sector.
"We are confident that our brands have found the right home for future growth and expansion of Sky Gate portfolio. Together, we aim to combine our knowledge and experience to enhance customer offerings and elevate the overall dining and delivery experience," Roy and Jindal said.
With this acquisition, DIL said its brand portfolio now encompasses 10 diverse food and beverage brands, including recent additions like Tealive, Sanook Kitchen and New York Fries.
"The acquisition of Biryani By Kilo, Goila Butter Chicken and The Bhojan, strengthens DIL's leadership position as one of the fastest-growing QSR chains in India," the company said.
First Published: 24 Apr 2025, 08:38 PM IST
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
44 minutes ago
- Time of India
Indian expats strike luck in UAE big ticket raffle, wins Dh150,000 each
After years of trying, Indian expats in the UAE win Dh150,000 each in the latest Big Ticket draw, with some sharing their winnings among friends/ Live Screen Grab As anticipation builds for the Dh25 million Big Ticket grand prize draw on July 3, five lucky individuals have already secured a windfall of Dh150,000 each in the latest round of winnings, among them, several Indian expatriates who have spent years in the UAE building lives, working hard, and hoping for a breakthrough. This month's Big Ticket Abu Dhabi draw turned dreams into reality for a delivery rider, a businessman, a former UAE shop owner, and other long-time residents who placed their bets with persistence, patience, and a dash of hope. Kerala Delivery Rider Strikes Gold After Six Tries Abdulla Pulikkoor Mohammed, a 34-year-old delivery rider from Kerala, has been living in Abu Dhabi for the past nine years, supporting his family back in India. Despite having purchased only six Big Ticket entries, he hit the jackpot this time, sharing the winning ticket with a group of 12 friends. 'Receiving the winning call made me feel happy. I plan to split the prize money with my friends and use my share to clear some loans,' he told Khaleej Times . 'Big Ticket is truly doing wonders, and I believe everyone should take part.' His win is a reflection of how even modest participation, when shared and consistent, can lead to big rewards. Businessman From Kerala Wins in Just Seven Months Another Indian expat, Salihrahman Pallipadath, a 37-year-old businessman, has been living in Ajman for 15 years with his family. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Good News: You May Be Richer Than You Think Undo Though he first learned about Big Ticket two years ago, he only started buying tickets seven months ago, also as part of a group of 11 friends. 'Receiving the winning call was a great experience – I'm truly happy,' Pallipadath said. 'I plan to use the prize money to renew my company visa. I'll continue purchasing from Big Ticket, and I encourage others to do the same. It's a luck-based raffle, and everyone should keep trying.' His story is one of perseverance and optimism, especially significant in the face of everyday business pressures and long-term responsibilities as a UAE-based entrepreneur. Former Sharjah Shop Owner Wins After a Decade of Tries Babulal Gautam, a 68-year-old from Mumbai, India, is another Big Ticket success story. He lived in Sharjah in 2014, where he ran a shop before returning to Mumbai. He's been buying Big Ticket entries for ten years, a full decade of trying that finally paid off. 'I actually missed the winning call, but I saw the email and was overjoyed. I kept checking and rechecking to make sure it was real. After a whole decade of trying, it finally happened,' he said. Known for his practical outlook, Gautam shared a piece of advice for hopefuls: 'I'm more of a scientific person and don't believe in luck much, so I believe the first step to winning is to simply buy a ticket.' His long journey with the raffle is a reminder of the patience and persistence that many expats maintain in the face of uncertain rewards. Also among the Dh150,000 prize winners is Shaji Memana, another Indian expat originally from Kerala. Memana bought his winning ticket online, and the news of his win came as an unexpected joy. Countdown to the Dh25 Million Grand Prize The next major Big Ticket event is the live grand prize draw on July 3, where the staggering Dh25 million jackpot will be awarded. In addition to the main prize, three winners will take home Dh75,000 each. Leading up to the grand event, Big Ticket will also hold weekly E-draws, with upcoming dates as follows: Week 1: June 10 Week 2: June 17 Week 3: June 24 Week 4: July 1 With decades-long participation from the Indian community, especially among expats, Big Ticket continues to hold deep emotional and financial appeal. It offers not just a shot at fortune, but a moment of recognition and relief for thousands working hard across the UAE.
India Gazette
an hour ago
- India Gazette
Swiss cosmetics brand Cellcosmet says it's time to enter India market
Bern [Switzerland], June 9 (ANI): Tancrede Amacker, CEO of Swiss cosmetics firm Cellcosmet, on Monday showed clear intent that he wishes to enter India market. The Swiss CEO met Commerce Minister Piyush Goyal, who is on a two-day Switzerland visit. 'It was a wonderful do high-end cosmetics, we sell high-end skincare made in Switzerland, and the idea is how could we enter India,' he told ANI. 'It's a wonderful country in terms of size and the population is have the pleasure to serve the Indian customers in Singapore, in London or in Switzerland, but not yet in India, and it's time for us to enter,' he added. 'So we were discussing about the possibilities when it comes to distribution,' he further said. During the meeting, they talked of possibility of collaborating with Nykaa. 'That's a wonderful platform that (and) we are very interested in,' the CEO, said, referring to Nykaa. He said minister Piyush Goyal suggested the Swiss company to think about co-packing initially, and produce in India at a later stage. 'The first step would be to enter India through a partner, so Nykaa could be one, that's kind of distribution partnership where we are help take I would say the understanding and the knowledge of the market and trying to adapt a business proposition to the Indian market,' he explained. And then in the second stage, we will find the right places to do this copacking and maybe manufacturing. An India trip is being organised for Swiss companies in September, the CEO said. 'A lot of Swiss colleagues will come along the way and we'll find out what are the best locations for us to implement,' he said. 'It's a wonderful investment destination. I mean that's the size of the market, but also the appetite for luxury goods as well is extremely strong. It's a very young and dynamic population, very educated as well, so it clicks, all I would say the right boxes for manufacturing and selling high-end cosmetics,' he concluded. Union Minister of Commerce and Industry Piyush Goyal, commenced his official visit to Switzerland on Monday, as part of his ongoing visit to Switzerland and Sweden from 9-13 June 2025. 'This visit underscores India's steadfast commitment to deepening strategic and economic partnerships with key European nations, advancing robust trade and investment ties, and supporting a shared vision for resilient global growth,' his ministry said in a statement. The visit commenced in Switzerland today, where the Minister engaged with global CEOs and prominent industry leaders to explore opportunities for strengthening bilateral trade and investment. The itinerary includes focused sectoral meetings with prominent Swiss industry leaders in areas such as Pharma and Life Sciences, and Precision Engineering/Machine Tools/High-tech Manufacturing. The Minister will also connect with the ICAI Zurich Chapter and interact with Indian media. A significant highlight will be meeting with Federal Councillor Guy Parmelin fostering strong trade and diplomatic ties. 'A significant component of the high-level visit to Switzerland will include a series of one-on-one meetings with leading Swiss companies. Indian industry representatives will also participate in these crucial engagements, fostering direct dialogue and exploring specific collaboration opportunities. The day will also feature participation in the Swissmem Industry Day and a Business Round Table with the Swiss Mechanical and Electrical (MEM) Industry, where deliberations will focus on the potential and opportunities arising from the India-EFTA Trade and Economic Partnership Agreement (TEPA),' the commerce ministry statement said. (ANI)
India Gazette
an hour ago
- India Gazette
Indian Army to get Rs 30,000 crore QRSAM air defence missile system boost
ANI 09 Jun 2025, 20:47 GMT+10 By Ajit Dubey New Delhi [India], June 9 (ANI): At a time when Indian air defence systems successfully thwarted the Pakistani aircraft, missile and drones attacks under Operation Sindoor, the Indian Army is all set to get Rs 30,000 crore boost with a new surface-to-air missile system expected to be cleared for acquisition by the Defence Ministry soon. The Defence Ministry is scheduled to take up the proposal for buying three regiments of the indigenous Quick Reaction Surface to Air Missile system (WRSAM) for the Army Air Defence for deployment along both western and northern borders, defence officials told ANI here The missile systems, developed by the Defence Research and Development Organisation, are highly mobile as they have the capability to search and track targets on the move and fire at short halts, they said. With a range of around 30 km, the system would be complementing the existing systems in the forces like the MRSAM and Akash in short to medium ranges. The missile system performance has been extensively evaluated under both day and night operational scenarios during the trials. The meeting of Defence Acquisition Council is planned to be held around the fourth week of June. During the four-day conflict with Pakistan, which used Chinese weaponry, the Indian Army's Air Defence units destroyed majority of the drones using L-70 and Zu-23 air defence guns while the Akash and MRSAM played a crucial role along with the Indian Air Force's Spydwr and Sudarshan S-400 air defence systems. The Army Air Defence is also getting a number of new radars, very short range air defence systems along with jammers and laser-based systems to deal with drones of Turkish and Chinese origin. (ANI)
