Bikaji enters QSR space with Rs 131.01 crore acquisition of 53% stake in Hazelnut Factory

New Delhi: Bikaji Foods International, an Indian snacks brand, has announced that its subsidiary, Bikaji Foods Retail, will be investing an amount of  Rs 131.01 crores for acquiring a 53.02% stake in Hazelnut Factory Food Products, a cafe cum artisanal sweets brand based in Lucknow. 

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 itself as a key player in the quick service restaurant (QSR) domain.

This acquisition will enable Bikaji to expand its product portfolio into the premium bakery and patisserie segment, while also incorporating various cafe offerings to meet evolving consumer preferences.

Deepak Agarwal, MD of Bikaji Foods International, said, “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. 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.”

Ankit Sahni, Founder of The Hazelnut Factory, said, “We are delighted to join hands with Bikaji and this acquisition marks an exciting milestone for The Hazelnut Factory. With our innovative culinary offerings and Bikaji's strong distribution network along with its operational excellence, we are well-positioned to accelerate our growth. Our vision to blend the rich tradition of artisanal sweets with global coffee culture will now reach a broader audience, creating unforgettable culinary experiences for even more customers. Our combined expertise will allow us to cater to a wider audience.”