Yum Restaurants India to sell stake in local Yum Brands franchisee
In this article (5)
Yum Restaurants India is reported to have sold its 4.4 per cent share in Devyani International for US$105 million.
Devyani International, from which Yum Restaurant acquired the stake in 2021, is the main franchisee of Yum Brands in China, operating KFC, Pizza Hut and Taco Bell.
SBI Mutual Fund (MF), Axis MF, Franklin Templeton MF, Nippon India MF, and Goldman Sachs are among the investors in Devyani International’s stock.
Devyani is planning to push the expansion of these brands, strengthening its growth strategy in FY24 by purchasing 274 KFC restaurants in Thailand, marking its first foray into Thailand’s quick-service and limited-service restaurant markets.
The business also plans 2000 stores across the globe by the end of this year, ahead of the previous target date of 2026.
Questions & Answers
Q.What brands does Devyani International operate as a franchisee?
What brands does Devyani International operate as a franchisee?
Devyani International is the main franchisee for Yum Brands. It operates popular fast-food chains such as KFC, Pizza Hut, and Taco Bell, primarily in China, according to the article.
Q.What is Devyani International's strategy for growth in FY24?
What is Devyani International's strategy for growth in FY24?
Devyani International plans to strengthen its growth strategy in FY24 by acquiring 274 KFC restaurants in Thailand. This is its initial entry into Thailand's quick-service and limited-service restaurant sectors.
Q.Who are some of the investors in Devyani International's stock?
Who are some of the investors in Devyani International's stock?
Several mutual funds and financial institutions are listed among the investors in Devyani International's stock. These include SBI Mutual Fund, Axis MF, Franklin Templeton MF, Nippon India MF, and Goldman Sachs.
Q.When does Devyani International aim to open 2000 stores globally?
When does Devyani International aim to open 2000 stores globally?
Devyani International aims to open 2000 stores across the globe by the end of this year. This target is ahead of its previously stated goal of reaching that number by 2026.
Reader pulse
Is Devyani's accelerated expansion wise?
19,593 votes so far