Devyani International Ltd. has purchased an 80.72% stake in Sky Gate Hospitality Pvt. On a completely diluted base. With the acquisition, operators of KFC and Pizza Hut will also take over Blackvelvet Hospitality Pvt, a subsidiary of Sky Gate. Peanut butter and jelly Pvt.
According to an exchange filing, the company has acquired 19% stakes and 29% stakes in Blackvelvet Hospitality, respectively, saying Chefs’ eateries, respectively.
Devyani International wiped 2,82,504 shares of Blackvelvet Hospitality for 6.21 crores on one or more tranches.
Blackvelvet operates a home delivery and meal restaurant business that serves moograi and Indian cuisine, biryani, kebabs, kormas, Indian desserts and more. We operate in Mumbai.
The Pizza Hut operator bought 2,900 shares of the chef at Rs 12.7.
The chef owns the brand Goila Butter Chicken, and is in the business of setting up and running restaurants and cloud kitchens to provide an overall curated culinary experience, Filing said.
The acquisition is expected to be completed before July 31, 2025 or prior to the two companies.
