Bikaji Foods to invest Rs 131.01 cr for 53% stake in Hazelnut Factory for QSR segment

Hazelnut Factory Food Products, headquartered in Lucknow and boasts a turnover of Rs 44.85 crore in the fiscal year 2024, specialises in the Food and Beverage (F&B) industry. Snack making company Bikaji Foods International Ltd is set to enter the Quick Service Restaurant (QSR) market by investing Rs 131.01 crore to acquire a 53.02 percent stake in Hazelnut Factory Food Products Private Limited. The acquisition will be done through its wholly-owned subsidiary, Bikaji Foods Retail Ltd (BFRL). Bikaji's investment will result in the acquisition of a 53.02% stake in Hazelnut Factory Food Products, enhancing its Quick Service Restaurant (QSR) business through a "House of Brand" strategy. The acquisition will allow Bikaji to expand its offerings into the premium bakery and patisserie category. Hazelnut Factory Food Products, headquartered in Lucknow and boasts a turnover of Rs 44.85 crore in the fiscal year 2024, specialises in the Food and Beverage (F&B) industry, complementing BFRL's core business focus. Hazelnut Factory currently operates 6 stores in Lucknow and 1 store each in Kanpur & Delhi.