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Sapphire Foods India to merge with Devyani International
Jan-02-2026

Sapphire Foods India has secured its Board’s approval for merger of the company with and into Devyani International. Post merger, the unified brand strategy and consumer proposition will help to unlock growth for both KFC and Pizza Hut. Further, it will provide cost efficiencies through consolidated procurement and stronger negotiating leverage with vendors, landlords, and other key stakeholders. Besides, integration of financial, managerial, and technical capabilities will strengthen execution, governance, and competitive positioning. Moreover, the productivity gains, overhead optimization and scale benefits will improve profitability of the merged entity. The full integration of the two entities, along with the realization of the identified synergy benefits, is expected to be completed within 15 to 18 months from the effective date of the merger.

The proposed merger is subject to receipt of all the customary regulatory & statutory approvals, including approvals from the stock exchanges, the Competition Commission of India, the National Company Law Tribunal(s), and the shareholders and creditors of both the Companies. Devyani International is the largest franchisee of Yum Brands in India and is among the largest chain operators of quick service restaurants (QSR) in India on a non-exclusive basis. Yum! Brands is a global restaurant company that owns and franchises major fast-food chains like KFC, Taco Bell, Pizza Hut, and Habit Burger Grill.

Sapphire Foods India is one of the largest restaurant operators in the Indian subcontinent. It is one of YUM’s franchisee operators in the Indian subcontinent.

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