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Bikaji Foods to acquire 53.02% stake in Hazelnut Factory for Rs 131.01 crore.
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Acquisition to enhance Bikaji’s presence in Quick Service Restaurant (QSR) market.
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Move aligns with Bikaji’s “House of Brands” strategy to cater to diverse customer tastes.
Bikaji Foods International Ltd is set to expand its footprint in the Quick Service Restaurant (QSR) market with a strategic investment. The company will acquire a 53.02% stake in Hazelnut Factory Food Products Private Limited for Rs 131.01 crore through its subsidiary, Bikaji Foods Retail Ltd.
Hazelnut Factory, headquartered in Lucknow, specializes in the Food and Beverage industry and operates 8 stores across Lucknow, Kanpur, and Delhi. The acquisition will enable Bikaji to venture into the premium bakery and patisserie category, complementing its core snack-making business. This move is part of Bikaji’s broader goal to develop its QSR business vertical.
The investment will be made in tranches over two years. Bikaji aims to establish itself as a key player in the QSR domain through its “House of Brands” strategy, catering to unique customer tastes and preferences. This acquisition follows Bikaji’s recent purchase of a 55% stake in Ariba Foods Private Ltd, a frozen food producer.
Bikaji Foods International’s stock rose 3.02% to Rs 908.65 on BSE, indicating a positive market response to the strategic move.
