Bikaji Foods International Ltd is set to enter the Quick Service Restaurant (QSR) market by investing Rs 131.01 crore to acquire a 53.02 percent stake in Hazelnut Factory Food Products Private Limited. The acquisition will be done through its wholly-owned subsidiary, Bikaji Foods Retail Ltd.
This investment will be made in tranches and is expected to be completed over the next two years, the company said in a stock exchange filing.
Through this acquisition, Bikaji aims to establish a House of Brands to cater to diverse customer tastes and preferences and position itself as a key player in the quick service restaurant (QSR) domain.
Upon completion of the acquisition process, Hazelnut Factory Food Products will be considered a related party of Bikaji Foods International and Bikaji Foods Retail in accordance with regulatory standards.
Earlier in August this year, Bikaji Foods International announced the acquisition of a 55% stake in Ariba Foods Private Ltd, a Ujjain-based company renowned for its production and sale of frozen food items.
This strategic move, which was given the green light during a board meeting on August 23, 2024, signifies a significant development for Bikaji as it aims to broaden its portfolio and enhance its footprint within the fast-evolving packaged foods sector.
