In a landmark move, Sapphire Foods India and Devyani International Ltd have announced their merger, setting the stage for a formidable presence in the fast-food sector with a collective portfolio of over 3,000 outlets.
The boards of the two major Yum! Brands franchise operators sanctioned the merger scheme, aiming for a merger turnover of approximately Rs 8,000 crore. This pivotal consolidation covers operations in multiple countries including India, Nigeria, and Sri Lanka.
Despite the current challenges of lower margins in the QSR industry, this merger seeks to enhance economies of scale and strengthen technological and supply-chain capabilities, fostering long-term growth and profitability. Regulatory approvals are pending and expected to be finalized in 12-15 months.
(With inputs from agencies.)
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