Latest news with #KaushikRoy
New Indian Express
24-04-2025
- Business
- New Indian Express
Devyani International acquires majority stake in Sky Gate Hospitality
NEW DELHI: Devyani International, which operates quick service restuarants (QSR) like KFC and Pizza Hut, has acquired an 80.72% stake in Sky Gate Hospitality, the parent company of Biryani by Kilo. The total value of the transaction is Rs 431.31 crore. Besides Biryani by Kilo, Goila Butter Chicken and The Bhojan are also part of the deal. Sky Gate Hospitality operates 100 outlets in 40 cities through its three brands. Its two other brands - Get-A-Way and Krazy Kebab Co - will get disinvested over the next nine months. Post the transaction, Sky Gate will become a subsidiary of the company. Devyani International has approved a preferential issue of 2.37 crore shares at Rs 176.78 each to acquire up to 80.72% equity stake in Sky Gate Hospitality. Devyani International operates popular international fast food and beverage brands like KFC, Pizza Hut, Costa Coffee and Vaango in India. It operates over 2030 stores in about 280 cities in India, Nepal, Thailand and Nigeria. Ravi Jaipuria, Non-executive Chairman of Devyani International said that while the company has many international brands under its portfolio, there has been a need to introduce the traditional flavour of Indian food to its menu. 'Sky Gate's command over flavors and technique of cooking biryani, has enabled them to deliver high-quality and delectable dishes, making them standout and leader in the industry,' Juipuria said in a statement. Founded in 2015 by Kaushik Roy and Vishal Jindal, Sky Gate has expanded its reach over 100 stores across 40+ cities. Kaushik Roy and Vishal Jindal, Founders of Sky Gate said 'We are delighted to partner with a seasoned industry leader. 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 & delivery experience.'
Mint
24-04-2025
- Business
- Mint
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.
Mint
24-04-2025
- Business
- Mint
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
Business Standard
24-04-2025
- Business
- Business Standard
Devyani International acquires Sky Gate along with three brands
Devyani International has announced the acquisition of controlling stake in Sky Gate Hospitality (Sky Gate') along with its three brands i.e. Biryani By Kilo', Goila Butter Chicken', and The Bhojan'. This strategic move aims to enhance DIL's presence in the Indian cuisine segment by integrating these well-established brands into its portfolio. Founded in 2015 by Kaushik Roy and Vishal Jindal, Sky Gate has emerged as a strong player in India's food delivery sector. Sky Gate is amongst the first ones to introduce the Handi Biryani' concept and deliver freshly prepared biryani. Its flagship brand, Biryani By Kilo (BBK), is one of the leaders in the organized biryani market, offering authentic, dum-cooked biryanis prepared to order and delivered in traditional handis. Under the leadership of Roy and Jindal, Sky Gate has expanded its reach over 100 stores across 40+ cities, catering to the diverse culinary preferences of Indian consumers. This strategic move aligns with DIL's vision to diversify its offerings and deepen its strategy with respect to House of Brands. With this acquisition, DIL's brand portfolio now encompasses 10 strong and diverse food and beverage brands. This includes 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.
Time of India
24-04-2025
- Business
- Time of India
Pizza meets Biryani! Devyani International acquires IITian's Biryani By Kilo for Rs 420 crore
QSR operator Devyani International , which operates franchise of Pizza Hut and KFC , on Thursday announced that it has acquired 80.72 per cent stake in Sky Gate Hospitality , known for Biryani By Kilo , in a Rs 419.60 crore deal. 'Devyani International Ltd. (DIL), a prominent player in India's Quick Service Restaurant (QSR) sector, has announced the acquisition of controlling stake in Sky Gate Hospitality Private Limited ('Sky Gate') along with its three brands i.e. 'Biryani By Kilo', 'Goila Butter Chicken', and 'The Bhojan'. 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 announced via a filing to the stock exchanges. Co-founded by Kaushik Roy and IIT-BHU passout Vishal Jindal, Sky Gate runs a portfolio of dine-in restaurants and delivery brands across 40 cities in India. The deal will make Sky Gate a Devyani International subsidiary, strengthening its premium dining and delivery presence. The acquisition implies an equity value of Rs 519 crore for Sky Gate, while the effective acquisition cost of 80.72 per cent has been pegged at Rs 419.6 crore. The deal will be settled partly through a preferential issue of 2.37 crore equity shares at Rs 176.78 per share (including premium), with the remainder to be paid in cash. The transaction includes Sky Gate and its subsidiaries—Blackvelvet Hospitality, Say Chefs Eatery, and Peanutbutter and Jelly Pvt Ltd. As part of the agreement, Sky Gate will transfer its brand Krazy Kebab Co. and its investment in Peanutbutter (which owns the brand Get-A-Way) within the next nine months, and the acquisition value has been determined, excluding these assets. Sky Gate reported a consolidated turnover of Rs 277 crore (unaudited) for FY25, up from Rs 268 crore in FY24, Rs 218 crore in FY23, and Rs 133 crore in FY22—excluding revenues from Krazy Kebab Co. and Peanutbutter. Shares of Devyani International were trading 2.14 per cent higher at Rs 179.15 on the BSE at 3 pm on Thursday.
