To strengthen its position in the premium bakery & patisserie segment.
MUMBAI, Oct 17 (The CONNECT) –Bikaji Foods Retail Limited (BFRL) will make a strategic investment of INR 131.01 Crores 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 by the wholly Owned Subsidiary of Bikaji Foods International Limited will be done in tranches and is expected to be completed in 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.
This acquisition will enable Bikaji to expand its product portfolio into the premium bakery and patisserie segment, while incorporating various café offerings to meet evolving consumer preferences, Deepak Agarwal, MD of Bikaji Foods International, said.
The Hazelnut Factory is an established Café cum Artisanal sweets brand having a retail presence in 6 stores in Lucknow and 1 store each in Kanpur & Delhi. The brand offers Specialty coffee, Artisanal sweets, bakery & patisserie along with a range of café Menu.
Ankit Sahni, Founder of The Hazelnut Factory, said, With the company’s innovative culinary offerings and Bikaji’s strong distribution network along with it’s operational excellence, the duo are well-positioned to accelerate growth.
The acquisition comes at a pivotal moment, as the Quick Service Restaurant (QSR) segment is witnessing rapid growth and an increased store presence in tier-2 and tier-3 cities and smaller towns, fueled by factors such as increasing urbanization, a growing young population, rising travel and tourism, and expanding internet penetration.
