New Delhi, April 22 – Devyani International Limited (DIL), the operator of well-known quick-service restaurant (QSR) brands such as KFC, Pizza Hut, and Costa Coffee in India, has announced plans to acquire a majority stake in the domestic food chain ‘Biryani By Kilo’ (BBK). As per agency report, the acquisition will be carried out through a controlling interest in Sky Gate Hospitality, the company that owns and manages the BBK brand along with other restaurant ventures.
In a regulatory filing, DIL, promoted by the Jaipuria family, disclosed that it will seek approval from its board of directors in a meeting scheduled for April 24. The board is expected to deliberate and approve the proposed acquisition, including the issuance of equity shares on a preferential basis as part of the payment consideration.
While the exact value of the deal and the number of shares involved were not disclosed, the company confirmed that binding agreements would be finalized in the upcoming board meeting. The acquisition includes the BBK brand as well as other ventures managed by Sky Gate Hospitality, including cloud kitchens and smaller restaurant brands.
Founded in 2015, Biryani By Kilo has grown to become a popular biryani and kebab delivery chain with more than 70 dine-in outlets across over 70 cities in India.
As of December 2024, Devyani International operates more than 900 KFC outlets and over 580 Pizza Hut stores across India, Nepal, and Nigeria. Additionally, the company manages more than 190 Costa Coffee cafés and 70 Vaango outlets throughout India. The acquisition of BBK is seen as a strategic expansion move to strengthen DIL's presence in the Indian dining and delivery market.
