Yum! takes minority stake in Devyani International; Rs 1,000 cr capex to double KFC, Pizza Hut footprint
Yum! Brands has picked up a minority stake in Devyani International, its largest India franchisee operating 500+ KFC and Pizza Hut stores. India delivered 12% Q4 SSSG and 10% FY SSSG. DIL plans Rs 1,000 crore capex over 4-5 years to double its store base, backed by acquisition of 74 KFC outlets at Rs 350 crore book value.
Yum! Brands acquires minority stake in largest India franchisee Devyani International, which operates 500 KFC/Pizza Hut stores. India posted 12% Q4 SSSG. DIL plans Rs 1,000 crore capex over five years to double KFC/Pizza Hut footprint.