Latest news with #SkyGateHospitality
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.'
Time of India
24-04-2025
- Business
- Time of India
Devyani International buys 80% in Biryani by Kilo for Rs 419 crore
Synopsis Devyani International Ltd (DIL) has acquired an 80.7% stake in Sky Gate Hospitality, the parent company of Biryani by Kilo, for Rs 431.31 crore. This acquisition includes other brands like Goila Butter Chicken and The Bhojan, adding 100 outlets across 40 cities to DIL's portfolio.
Business Standard
21-04-2025
- Business
- Business Standard
Devyani Intl jumps as board plans to acquire Biryani By Kilo
Devyani International rallied 5.20% to Rs 174 after the company announced that its board will meet on Thursday, 20 April 2025, to consider acquiring majority stake in Sky Gate Hospitality, which operates restaurants under brand name, Biryani by Kilo. The company will 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, operating restaurants under the brand Biryani by Kilo and other brands. The issuance of equity shares shall be subject to the approval of equity shareholders at an extra-ordinary general meeting of the company. Devyani International (DIL), among the fastest growing chain Quick Service Restaurant (QSR) operators in the country, is the largest franchisee for Yum Brands (KFC & Pizza Hut) in India. It is also the sole franchisee for Costa Coffee Brand and stores in India. The company reported consolidated net loss of Rs 0.49 crore in Q4 FY25 as compared with net profit of Rs 9.62 crore in Q4 FY24. Net sales jumped 53.5% YoY to Rs 1,294.40 crore in Q4 FY25.
