Bikaji Foods International Ltd on Wednesday said it will acquire a 53.02% stake in Hazelnut Factory Food Products Pvt. for Rs 131.01 crore to mark its foray into the quick service restaurant segment. Bikaji Foods Retail Ltd., a wholly owned subsidiary, will make a strategic investment of Rs 131.01 crore for an acquisition of a 53.02% stake in the Hazelnut Factory, a cafe-cum-artisanal sweets brand based in Lucknow, Bikaji Foods International said in a statement.
The investment will be done in tranches and is expected to be completed in the next two years, it added.
"This acquisition marks a significant step in Bikaji's journey to expand beyond traditional ethnic snacks and enter into retail QSR, premium artisanal sweets and bakery segment," Bikaji Foods International Managing Director Deepak Agarwal said.
He further said: "This strategic move not only marks our entry into the high-growth QSR sector but also aligns with our vision to build a 'House of Brands'. By integrating THF's premium offerings and Bikaji's manufacturing capabilities, we aim to cater to unique customer tastes and preferences, establishing Bikaji as a key player in the QSR space." THF has six stores in Lucknow and one store each in Kanpur and Delhi. The brand offers speciality coffee, artisanal sweets, bakery and patisserie along with a range of cafe menus.
"With our innovative culinary offerings and Bikaji's strong distribution network along with its operational excellence, we are well-positioned to accelerate our growth," The Hazelnut Factory Founder Ankit Sahni said.
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