Yum Manufacturers emblem
Dado Ruvic | Reuters
Sapphire Meals India stated on Thursday it is going to merge with Devyani Worldwide, in a transfer that’s more likely to consolidate native franchisee companions of Yum Manufacturers, the proprietor of KFC and Pizza Hut.
The deal, first reported by the native Financial Instances, comes as fast-food franchisees in India face slowing same-store gross sales and margin pressures, with shoppers chopping again on eating out and ordering in amid excessive residing prices.
Devyani will problem 177 shares for each 100 shares of Sapphire, the latter stated.
Sapphire stated the merger will create a scaled quick-service restaurant (QSR) platform by consolidating KFC and Pizza Hut operations, boosting effectivity, increasing home and worldwide attain and strengthening development and capital entry.
