New Delhi, Jan. 2 -- While the rest of India was nursing a New Year's hangover, two of the country's biggest fast-food titans were cooking up a massive deal.

Late on 1 January 2026, Devyani International and Sapphire Foods-the two primary gatekeepers of the Yum! Brands empire in India-announced they were merging into a single quick service restaurant (QSR) superpower. Between them, these two giants manage KFC, Pizza Hut, and Taco Bell across India and neighbouring territories.

Why are Devyani and Sapphire merging, and what does this deal mean for the broader QSR market in India? Mint explains.

Both Devyani International, part of the RJ Corp group, and Sapphire Foods are listed companies. Under the merger, Sapphire Foods shareholders wi...