Bikaji Foods Buys 53% of Hazelnut Factory for ₹131 Crore, Enters QSR Market

Bikaji Foods International Ltd, known for its ethnic snacks, has purchased a 53.02% stake in Hazelnut Factory Food Products Pvt Ltd for ₹131 crore. This acquisition, made through its subsidiary Bikaji Foods Retail Ltd, was announced in a stock exchange filing on Wednesday.

This strategic move allows Bikaji to enter the Quick Service Restaurant (QSR) sector as part of its ‘House of Brand’ strategy. It will create opportunities for cross-selling, as well as shared facilities and resources.

The acquisition comes at a time when home-grown cafes in India are on the rise, with global chains like Le Pain Quotidien, Ladurée, and Tim Hortons also expanding in the market.

Bikaji Foods, which competes closely with Haldiram’s, plans to complete the acquisition in stages over the next two years. Once fully acquired, Hazelnut Factory will be classified as a related party under regulatory guidelines for both Bikaji Foods International and Bikaji Foods Retail.

Deepak Agarwal, MD of Bikaji Foods International, stated that this acquisition is a significant step toward expanding beyond traditional ethnic snacks and into the premium artisanal sweets and bakery markets.

On Wednesday, shares of Bikaji Foods rose by 3.02%, closing at ₹908.65 on the BSE. Hazelnut Factory currently operates six stores in Lucknow and one each in Kanpur and Delhi, offering specialty coffees, artisanal sweets, and bakery products.