Bikaji Meals acquires 53% of Hazelnut Manufacturing unit for Rs 131 crore

Bikaji Meals Worldwide has acquired a 53.02% majority stake in Lucknow-based Hazelnut Manufacturing unit Meals Merchandise for Rs131 crore by way of its subsidiary, Bikaji Meals Retail(BFRL), as per a inventory change submitting made on Wednesday.

This funding shall be performed in tranches and is predicted to be accomplished within the subsequent 2 years. “Via this acquisition, Bikaji goals to arrange a Home of Manufacturers to cater to distinctive buyer tastes and preferences and set up Bikaji as a key participant within the Fast Service Restaurant (QSR) area,” the corporate stated in an change submitting.

This acquisition aligns with the corporate’s broader technique to develop and strengthen its fast service restaurant (QSR) enterprise division.

This transfer aligns with the rising pattern of Indian homegrown cafes increasing their footprint, whereas international gamers comparable to Belgian bakery Le Ache Quotidien, French patisserie Ladurée, Reliance-backed Armani/Caffè, Pret a Manger, and Canada’s Tim Hortons are more and more coming into the Indian market.

Deepak Agarwal, Managing Director of Bikaji Meals Worldwide, commented, “This strategic transfer not solely marks our entry into the high-growth QSR sector but in addition aligns with our imaginative and prescient to construct a ‘Home of Manufacturers’.”


Written with the View : afaqs