|
|
|
You can get e-magazine links on WhatsApp. Click here
|
|
|
|
|
|
Bikaji strengthens position in premium bakery & patisserie segment
|
|
Saturday, 19 October, 2024, 12 : 00 PM [IST]
|
|
Our Bureau, New Delhi
|
Bikaji Foods International Limited, one of India’s largest ethnic snacks brands, has announced that, Bikaji Foods Retail Limited, wholly owned subsidiary of Bikaji Foods International Limited, will make a strategic investment of Rs 131.01 crore for an acquisition of 53.02% stake in Hazelnut Factory Food Products Private Limited, a café cum artisanal sweets brand based in Lucknow. This investment will be done in tranches and is expected to be completed in next two years. Through this acquisition, the company aims to set up a house of brands to cater to unique customer tastes and preferences and establish it 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 café offerings to meet evolving consumer preferences. It is an established café cum artisanal sweets brand having a retail presence in six stores in Lucknow and one store each in Kanpur & Delhi. The brand offers specialty coffee, artisanal sweets, bakery & patisserie along with a range of café menu. The acquisition of the brand will enhance the company’s house of brands by providing cross-selling opportunities, flexible menu offerings, a diverse customer base, a diversified brand portfolio, shared facilities and resources, and increased market presence.
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 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 it’s 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.”
|
|
|
|
|
|
|
|
|
|