In a move signaling deeper penetration into the Indian delivery-first dining segment, Devyani International Ltd (DIL) — the master franchisee of global QSR giants like KFC and Pizza Hut — has signed an agreement to acquire a controlling stake in Biryani By Kilo (BBK), one of India’s most recognisable biryani delivery brands. The announcement sent DIL’s shares surging by nearly 4% in early Monday trade on the NSE, reflecting investor confidence in the deal’s strategic value.
Consolidating QSR and Delivery-First Strengths
The acquisition is expected to strengthen DIL’s presence in the rapidly growing Indian cloud kitchen and delivery dining space, which has seen a post-pandemic boom. Biryani By Kilo, known for its made-to-order handi biryani model, has built a strong niche in the delivery segment with a loyal customer base across metros and Tier-I cities.
According to Devyani International’s regulatory filing, the company has entered into a definitive agreement to acquire 51% equity stake in Superfoods BBK Pvt Ltd, the parent company of BBK. The acquisition will be carried out via a combination of primary and secondary infusion, with plans to scale BBK’s presence nationally.
Why This Acquisition Matters
The deal is a telling sign of how traditional QSR chains are adapting to India’s evolving dining economy, where delivery-first formats, regional cuisines, and digitally native brands are commanding a growing share of wallet.
Founded in 2015, BBK has grown from a bootstrapped concept to a national brand with over 90+ outlets across India. Its full-stack control over operations — from central kitchens to delivery fleet — has helped it maintain food consistency and brand differentiation. With Devyani’s operational muscle and pan-India QSR network, BBK is now poised for its next chapter of growth.
Industry Pulse: More Consolidation Ahead?
This acquisition comes at a time when India’s foodservice and delivery market is experiencing rapid consolidation. As per NRAI’s latest India Food Services Report, regional and Indian cuisine brands have shown stronger revenue resilience post-2021, especially in the online-ordering and D2C formats. With the segment projected to cross ₹1,45,000 crore by 2027, players like Devyani International are looking to de-risk their portfolios by diversifying into homegrown concepts.
For DIL, which operates over 2,000 stores across India, Nepal, Nigeria, and Thailand, this also aligns with a broader strategy to reduce dependency on global franchises and build locally relevant, scalable brands that resonate with Indian tastes.
A Closer Look Ahead
As per market sources, BBK’s founders — Kaushik Roy and Vishal Jindal — will continue to lead the business post-acquisition. Their focus will be on product innovation, new format experiments, and deeper tech integrations, supported by DIL’s backend and financial ecosystem.
With M&A activity heating up and investor sentiment bullish, 2025 could well be the year of brand convergence, where global formats meet local favourites under one roof.
