Bikaji Foods Acquires 53.02% Stake in The Hazelnut Factory for INR 131.01 Cr to Enter QSR Market With this acquisition, Bikaji aims to expand its offerings into premium bakery, patisserie, and QSR segments, aligning with its strategy to build a "House of Brands" catering to evolving consumer preferences.
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Bikaji Foods International Limited (Bikaji), an ethnic snacks brand, has announced a strategic investment of INR 131.01 crore to acquire a 53.02% stake in Hazelnut Factory Food Products Private Limited (The Hazelnut Factory), a café and artisanal sweets brand based in Lucknow.
This investment, made through Bikaji Foods Retail Limited (BFRL), a wholly owned subsidiary of Bikaji, will be completed in tranches over the next two years.
Through this acquisition, Bikaji aims to diversify its offerings by expanding into the premium bakery, patisserie, and quick-service restaurant (QSR) segments. The move is part of Bikaji's larger strategy to establish a "House of Brands" that caters to evolving consumer preferences.
Deepak Agarwal, Managing Director of Bikaji Foods International, stated, "This acquisition marks our entry into the high-growth QSR sector and aligns with our vision to build a 'House of Brands.' By integrating The Hazelnut Factory's premium offerings with Bikaji's manufacturing capabilities, we aim to establish Bikaji as a key player in the QSR space."
The Hazelnut Factory currently operates six stores in Lucknow and has additional locations in Kanpur and Delhi. The brand offers specialty coffee, artisanal sweets, bakery products, and a diverse café menu. The acquisition will help Bikaji leverage cross-selling opportunities, enhance its product portfolio, and increase its market presence.
Ankit Sahni, Founder of The Hazelnut Factory, expressed excitement about the partnership, stating, "Joining hands with Bikaji marks an exciting milestone for us. With Bikaji's strong distribution network and 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."
Bikaji continues to expand its footprint, with a presence in 25 states, four union territories, and export operations in 25 countries. The company is known for its wide range of traditional Indian snacks and sweets, including bhujia, namkeen, packaged sweets, papad, and frozen foods.
