Devyani International Expands Culinary Empire with Major Acquisition

Devyani International Ltd has announced the acquisition of an 80.72% stake in Sky Gate Hospitality, including brands like Biryani By Kilo, for Rs 419.6 crore. The strategic move enhances DIL’s offerings in Indian cuisine. Sky Gate, a leading player in the food delivery sector, will become a subsidiary of DIL.

In a significant move to broaden its portfolio, Devyani International Ltd declared on Thursday its acquisition of an 80.72% stake in Sky Gate Hospitality. The Rs 419.6 crore deal includes popular brands such as 'Biryani By Kilo'.

This acquisition signifies a strategic expansion in DIL's offerings, aiming to integrate established Indian cuisine brands into its fold. Sky Gate operates more than 100 outlets across 40 cities, making it a prominent figure in the food delivery sector, particularly known for introducing the 'handi biryani' concept.

Ravi Jaipuria, DIL's Non-Executive Chairman, emphasized the aim to incorporate traditional Indian flavors into their diverse brand lineup, which already includes KFC and Pizza Hut. Founders of Sky Gate, Kaushik Roy and Vishal Jindal, expressed optimism about the future growth potential under DIL's umbrella.

(With inputs from agencies.)