CHENNAI: Bikaji Foods International Limited (Bikaji) has announced that, Bikaji Foods Retail Ltd (BFRL), wholly-owned subsidiary of Bikaji Foods International, will make a strategic investment of Rs 131.01 crore for acquiring 53.02 per cent stake in Hazelnut Factory Food Products (The Hazelnut Factory / (THF)), a café cum artisanal sweets brand based in Lucknow.
This investment will be done in tranches and is expected to be completed in next two years. Through this acquisition, Bikaji aims to set up a House of Brands to cater to unique customer tastes and preferences and establish Bikaji as a key player in the quick service restaurant (QSR) domain.
This acquisition will enable Bikaji to expand its product portfolio into the premium bakery and patisserie segment, while also incorporating café offerings.