Sapphire Foods Dismisses Merger Buzz with Devyani—Says Strategic Evaluations Are Routine

Sapphire Foods India Ltd, one of the largest franchisees of Yum! Brands in the subcontinent, has issued a clarification regarding recent media speculation about a potential merger with Devyani International Ltd, another major QSR operator. In a regulatory filing, Sapphire stated that while it routinely evaluates strategic opportunities in the ordinary course of business, there is no definitive proposal under consideration for a merger at this time.

 

The clarification comes amid heightened investor chatter following reports suggesting a possible consolidation between the two Yum! franchisees, which together operate over 1,500 KFC and Pizza Hut outlets across India and neighboring countries. Sapphire emphasized that any material developments would be disclosed in accordance with SEBI regulations.

 

This statement aims to quell market speculation and reinforce transparency, even as the QSR sector continues to witness consolidation interest driven by scale efficiencies, supply chain synergies, and brand alignment.

 

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Source: Economic Times – Sapphire Foods Clarifies on Merger Speculation