The Competition Commission of India (CCI) has approved the proposed merger of Sapphire Foods India Ltd with and into Devyani International Ltd, along with certain related transactions.
The combination brings together two major operators of quick-service restaurant brands in India, both of which operate franchise outlets of KFC and Pizza Hut.
Devyani operates multiple international brands
Devyani International operates KFC and Pizza Hut franchise outlets across India. It is also the exclusive franchisee in India for Costa Coffee, New York Fries and Sanook Kitchen.
In addition to its international franchise portfolio, the company owns and operates homegrown brands.
Sapphire operates KFC and Pizza Hut outlets
Sapphire Foods India also operates franchise outlets of KFC and Pizza Hut in India.
The approved combination envisages the merger of Sapphire Foods with and into Devyani International, together with related transactions.