Mumbai: Bikaji Foods International Limited (Bikaji), an ethnic snacks brands, has announced a strategic investment of INR 131.01 crores through its wholly-owned subsidiary, Bikaji Foods Retail Limited (BFRL), to acquire a controlling 53.02% stake in Hazelnut Factory Food Products Private Limited (“The Hazelnut Factory”). This investment will occur in tranches and is expected to be finalized within the next two years.
With this acquisition, Bikaji aims to establish a House of Brands that caters to diverse customer tastes and preferences, positioning itself as a key player in the Quick Service Restaurant (QSR) sector. The Hazelnut Factory, known for its artisanal sweets and café offerings, operates six stores in Lucknow and one each in Kanpur and Delhi, providing specialty coffee, bakery items, and a range of café menu options.
Deepak Agarwal, Managing Director of Bikaji Foods International, stated, “This acquisition marks a significant step in Bikaji’s journey to expand beyond traditional ethnic snacks into the retail QSR and premium artisanal sweets segment. By integrating THF’s premium offerings with Bikaji’s manufacturing capabilities, we aim to cater to unique customer preferences, establishing Bikaji as a prominent player in the QSR space.”
Ankit Sahni, Founder of The Hazelnut Factory, expressed enthusiasm for the partnership, saying, “We are excited to join hands with Bikaji. This acquisition is a milestone for The Hazelnut Factory. Our innovative culinary offerings combined with Bikaji’s strong distribution network will accelerate our growth and allow us to reach a broader audience.”
The acquisition comes at a time when the QSR segment is experiencing rapid growth, particularly in tier-2 and tier-3 cities, driven by increasing urbanization, a growing young population, and the rise of food aggregators. This strategic move positions Bikaji to leverage emerging opportunities in the evolving dining landscape.
