KFC and Pizza Hut to Merge into One Franchise in India
India’s major QSR companies Sapphire Foods India Ltd (SFIL) and Devyani International Limited (DIL) are set to merge through a share-swap deal
Jan 3, 2026 - India’s major quick service restaurant (QSR) companies Sapphire Foods India Ltd (SFIL) and Devyani International Limited (DIL) are set to merge through a share-swap dealIndia’s major quick service restaurant (QSR) companies Sapphire Foods India Ltd (SFIL) and Devyani International Limited (DIL) are set to merge through a share-swap dea. After this merger, KFC and Pizza Hut will operate under a single, unified franchise of Yum! India.
The merger process is expected to take 15-18 months to complete and is subject to approvals. Under the share-swap arrangement, shareholders of SFIL will receive 177 shares of DIL for every 100 shares held. DIL will also take over 19 KFC outlets in Hyderabad effectively taking its total store count to 2,818.
In recent months, fast-food franchise operators have been facing slowing sales growth and pressure on profit margins, making consolidation a strategic move to improve scale, efficiency and long-term profitability.
Source: Media Reports
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