India, April 22 -- Devyani International Ltd (DIL), the Jaipuria family-led operator of popular quick service restaurant franchises such as KFC, Pizza Hut, and Costa Coffee, has announced plans to acquire a controlling stake in the homegrown food chain 'Biryani by Kilo'.
In a regulatory filing, the company revealed that it will acquire a majority interest in Sky Gate Hospitality, the parent firm behind the 'Biryani by Kilo' brand, as well as other associated brands.
While specific details regarding the number of shares and the transaction value have not yet been disclosed, DIL noted that its board is scheduled to meet on April 24 to review and approve the acquisition proposal.
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