Bikaji Foods Retail has planned to foray into the Quick Service Restaurant (QSR) segment by investing Rs 131.01 crore for an acquisition of 53.02 percent stake in Hazelnut Factory Food Products Private Limited. Bikaji Foods Retail Limited (BFRL) is a wholly owned subsidiary of Bikaji Foods International Limited.
This acquisition is a part of the company's overall strategy to develop and expand its QSR business vertical.
This investment will be done in tranches and is expected to be completed in next 2 years. "Through this acquisition, Bikaji aims to set up a House of Brands to cater to unique customer tastes and preferences and establish Bikaji as a key player in the Quick Service Restaurant (QSR) domain," the company said in an exchange filing.
The acquisition will enable Bikaji to expand its product portfolio into the premium bakery and patisserie segment. The Hazelnut Factory is an established Café cum Artisanal sweets brand having a retail presence in 6 stores in Lucknow and 1 store each in Kanpur & Delhi.
Deepak Agarwal, MD of Bikaji Foods International, remarked, "This strategic move not only marks our entry into the high-growth QSR sector but also aligns with our vision to build a 'House of Brands'."
Shares of Bikaji Foods International Ltd settled at Rs 909.90 per share on the NSE, up 3.12 percent.
In 2024 so far, the stock has surged 66.72 percent on the BSE, outperforming the Sensex which grew 12.77 percent.
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