Biryani By Kilo Acquired by Devyani: Recently, DIL or Devyani International Limited, which runs popular food chains like KFC, Pizza Hut and Costa Coffee in the country, has added another Indian dish to its basket.
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What is Biryani By Kilo Acquired by Devyani Deal?
DIL acquired an 81% stake in Sky Gate Hospitality, which runs Biryani by Kilo (BBK) restaurants, for Rs 420 crore. In this way, DIL has tried to compete with the ‘Ekdum Biryani’ brand of its rival business, Jubilant Foodworks.
Biryani By Kilo Acquired by Devyani: Deal Details
Devyani International Limited (DIL), a leading player in India’s quick service restaurant (QSR) sector, has agreed with Sky Gate Hospitality Private Limited (‘Sky Gate’), as well asSimultaneously, acquisition of controlling stake in its three brands i.e. ‘Biryani by Kilo‘, ‘Goil’s Butter Chicken’ and ‘The Bhojan’ has been approved.
Devyani International Ltd, one of India's largest quick service restaurant operators, is preparing to acquire a majority stake in Sky Gate Hospitality, the parent company behind the popular food brand 'Biryani by Kilo.'
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FAQ On Biryani By Kilo Acquired by Devyani
Q. Why is this deal so important?
A. There is no denying the fact that the demand for biryani is very high in India. In just one year (2024), food delivery apps Swiggy and Zomato delivered 17 crore biryanis. That is, 330 orders of biryani are being delivered every minute. In this sense, it is the most popular food dish in India.
Q. How will DIL benefit?
A. By acquiring Sky Gate, DIL can add BBK, Goila Butter Chicken and The Bhojan to its existing network of restaurants and cloud kitchens (kitchens for delivery only). DIL’s business is growing regularly, but in comparison, Sky Gate has been growing at a compounded annual rate (CAGR) of 55% in the last 5 years. This may lead to a rise in DIL’s sales and profits.
Q. How big is the biryani market in India?
A. The biryani market in India is worth around Rs 20,000 crore. Interestingly, most of this market is captured by small, unorganised players. Large organised brands like BBK, Behrouz and Ekdum Biryani account for only a small part of it (about 15%). This means there is a lot of scope for expansion in this business.
Jay Chavda He is the Founder and Writer of businesspulsecare.com. He is an I.T Engineer, Freelancer, Businessman. He posts Business, Stock/Share Market, Finance Related News and updates on the website. 🔗