Bikaji Foods acquires 53% of Hazelnut Factory for Rs 131 crore

Bikaji Foods International has acquired a 53.02% majority stake in Lucknow-based Hazelnut Factory Food Products for Rs131 crore through its subsidiary, Bikaji Foods Retail(BFRL), as per a stock exchange filing made on Wednesday.

This investment will be done in tranches and is expected to be completed in the next 2 years. "Through this acquisition, Bikaji aims to set up a House of Brands to cater to unique customer tastes and preferences and establish Bikaji as a key player in the Quick Service Restaurant (QSR) domain," the company said in an exchange filing.

This acquisition aligns with the company’s broader strategy to grow and strengthen its quick service restaurant (QSR) business division.

This move aligns with the growing trend of Indian homegrown cafes expanding their footprint, while global players such as Belgian bakery Le Pain Quotidien, French patisserie Ladurée, Reliance-backed Armani/Caffè, Pret a Manger, and Canada's Tim Hortons are increasingly entering the Indian market.