Awaiting price reaction for this filing.
Devyani International Ltd (DIL), one of India's largest QSR operators and the biggest franchisee for KFC and Pizza Hut in India, has announced the acquisition of a controlling stake in Sky Gate Hospitality Private Limited. Sky Gate owns three brands — Biryani By Kilo (BBK), Goila Butter Chicken, and The Bhojan — and operates over 100 outlets across 40+ Indian cities. The deal adds Indian cuisine brands to DIL's portfolio, which now includes 10 food and beverage brands following recent additions like Tealive, Sanook Kitchen, and New York Fries. Sky Gate was founded in 2015 by Kaushik Roy and Vishal Jindal, and BBK is described as one of the leaders in the organized biryani market, known for its handi-cooked biryani delivery. The financial terms of the deal were not disclosed in the press release.
The acquisition strengthens DIL's position in the growing Indian cuisine and biryani segment, diversifying beyond its core global QSR brands and supporting its 'House of Brands' strategy. This could be positive for long-term revenue growth and market share, though the absence of deal value means investors will look to the company for further details on cost and synergy impact.