Bikaji Foods International Ltd, a leading ethnic snacks manufacturer, has acquired a 53.02% stake in Lucknow-based café and artisanal sweets chain, Hazelnut Factory, for Rs 131 crore through its subsidiary, Bikaji Foods Retail Ltd (BFRL). This strategic acquisition, announced on Wednesday in a stock exchange filing, marks Bikaji’s entry into the fast-growing Quick Service Restaurant (QSR) segment.
The acquisition, to be completed over the next two years, will help Bikaji leverage cross-selling opportunities and shared resources, enabling it to diversify beyond its traditional snack offerings. Hazelnut Factory, known for its specialty coffees, artisanal sweets, and bakery products, currently operates six stores in Lucknow, with additional outlets in Kanpur and Delhi.
Deepak Agarwal, Managing Director of Bikaji Foods, stated that the move is a “significant step in expanding into the premium artisanal sweets and bakery market.” This acquisition positions Bikaji to compete with both homegrown and international players in India’s rapidly growing café and QSR sectors.
This move comes at a time when global café chains, such as Le Pain Quotidien and Pret a Manger, are also expanding their presence in India, creating a competitive QSR scenario.