Devyani International to acquire majority stake in Biryani By Kilo

New Delhi: Devyani International, which operates brands like KFC, Pizza Hut, and Costa Coffee, is likely to acquire a majority stake in Biryani By Kilo, as per reports.

The company had notified in a board meeting on April 20 about its plans to acquire a majority stake in Sky Gate Hospitality, which runs Biryani By Kilo.

In a stock exchange filing, Devyani International announced that it will review and approve the final agreements and the issuance of equity shares on a preferential basis as part of the payment for acquiring a controlling stake in Sky Gate Hospitality.

The company has not disclosed the percentage of shares or the monetary worth of the acquisition; however, as per reports, the board will meet to approve the proposal on April 24.

"We wish to inform you that a meeting of the board of directors is scheduled on Thursday, April 24, 2025 inter-alia, to consider and approve the definitive agreements and issuance of equity shares of the company on a preferential basis to discharge the consideration payable for acquisition of controlling equity stake in Sky Gate Hospitality Pvt Ltd, operating restaurants under the brand 'Biryani by Kilo' and other brands," it said.

Biryani by Kilo, founded in 2015 by Kaushik Roy and Vishal Jindal, delivers dum-cooked handi biryanis across the country.