Bikaji Foods Ventures into Quick Service Restaurant Arena with Hazelnut Factory Stake

Bikaji Foods International Ltd is acquiring a 53.02% stake in Hazelnut Factory Food Products Pvt Ltd for Rs 131.01 crore to enter the quick service restaurant sector. Through its subsidiary, Bikaji Foods Retail Ltd, the company aims to broaden its reach into premium artisanal sweets and the bakery segment.

Bikaji Foods International Ltd announced on Wednesday its strategic move to acquire a 53.02% stake in Hazelnut Factory Food Products Pvt Ltd. The acquisition, priced at Rs 131.01 crore, marks Bikaji's entry into the fast-paced quick service restaurant (QSR) sector.

The deal will be executed by Bikaji Foods Retail Ltd, a wholly owned subsidiary, in multiple tranches over the next two years. This strategic investment underscores Bikaji's ambition to expand beyond traditional ethnic snacks and into the retail QSR, artisanal sweets, and bakery market.

Deepak Agarwal, Managing Director of Bikaji Foods International, stated that integrating The Hazelnut Factory's premium offerings with Bikaji's manufacturing strengths will allow the brand to cater to diverse customer preferences and secure a leading position in the burgeoning QSR sector. Ankit Sahni, Founder of The Hazelnut Factory, emphasized the growth potential through their innovative culinary offerings bolstered by Bikaji's operational prowess.

(With inputs from agencies.)