M&A

M&A

Ethnic snacks brand Bikaji acquires 53% in artisanal sweets seller Hazelnut Factory for Rs.131-Cr

Business Standard   Hazelnut Factory Food Products  

Bikaner, Rajasthan-headquartered Bikaji Foods International (Bikaji), an ethnic snacks brand, through its wholly-owned subsidiary, Bikaji Foods Retail, has invested INR 131.01 crore for a 53.02 % stake in Hazelnut Factory Food Products , a cafe-cum-sweets brand based in Lucknow. The investment will be made in tranches and is expected to be completed over the next two years.Hazelnut Factory sells specialty coffee, artisanal sweets, bakery and patisserie items, along with a range of cafe menu options. It has six stores in Lucknow and one store each in Kanpur and Delhi. The acquisition marks Bikaji’s entry into the QSR (Quick Service Restaurant) sector.