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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.'
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.
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
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel QSR operator Devyani International , which operates franchise of Pizza Hut and KFC , on Thursday announced that it has acquired 80.72% 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 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 acquisition implies an equity value of Rs 519 crore for Sky Gate, while the effective acquisition cost of 80.72% 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 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 read: HUL Q4 Results: PAT rises 4% YoY to Rs 2,493 crore, revenue up 2% 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 of Devyani International were trading 2.14% higher at Rs 179.15 on the BSE at 3 pm on Thursday.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Yahoo
23-04-2025
- Business
- Yahoo
QSR operator Devyani plans to acquire Biryani by Kilo
Devyani International, the operator of quick-service restaurants (QSR) such as KFC and Pizza Hut, has announced its intention to acquire Indian foodservice brand Biryani by Kilo (BBK). This strategic move has prompted a 4% surge in Devyani International's share price. Following the acquisition announcement, Devyani shares increased to Rs172.65 on the Bombay Stock Exchange (BSE). The company is set to hold a board meeting on 24 April to finalise the acquisition terms and to discuss the issuance of equity shares on a preferential basis for the purchase of a controlling stake in Sky Gate Hospitality, which operates BBK and other brands. Other brands operated by Sky Gate include Goila Butter Chicken, The Bhojan, and Get-A-Way. Founded in 2015 by Kaushik Roy and Vishal Jindal, BBK delivers dum-cooked handi biryanis throughout India. BBK is claimed to use high-quality ingredients, spices, and meats, and follow traditional cooking procedures to prepare each biryani order fresh in an earthen handi. The QSR operator has a presence in over 70 dine-in outlets across more than 29 cities, including Bengaluru, Delhi NCR, Goa, Kolkata and Mumbai. Established in 1991, Devyani International is claimed to be one of the largest operators of chain QSRs in India. The company's portfolio includes global and successful in-house brands, with a network of more than 2,000 restaurants as of 31 December 2024, across India, Thailand, Nepal and Nigeria. "QSR operator Devyani plans to acquire Biryani by Kilo" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
