Bikaji Foods shares in focus as co to acquire majority stake in Hazelnut Factory for Rs 131 crore
Bikaji Foods International shares will be in focus on Thursday after the company announced that its wholly-owned subsidiary, Bikaji Foods Retail, will make a strategic investment of Rs 131.01 crore for a 53.02% stake in Hazelnut Factory Food Products. Hazelnut Factory is a café-cum-artisanal sweets brand based in Lucknow.
The investment will be made in tranches, with the acquisition expected to be completed over the next two years, according to the company's stock exchange filing.
Through this acquisition, Bikaji aims to build a 'House of Brands' catering to diverse customer preferences and strengthening its position in the quick service restaurant (QSR) segment.
«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. The Hazelnut Factory is an established café-cum-artisanal sweets brand with a retail presence in six stores in Lucknow and one store each in Kanpur and Delhi,» the filing stated.
Hazelnut Factory Food Products offers specialty coffee, artisanal sweets, bakery and patisserie items, along with a range of café menu options.
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