economy

January 2, 2026

Shares of KFC and Pizza Hut Indian operator Devyani jump on merger with rival franchisee Sapphire

Two major franchisee operators for Yum!Brands in India will merge to create a single unified franchisee for KFC & Pizza Hut in the country

Shares of KFC and Pizza Hut Indian operator Devyani jump on merger with rival franchisee Sapphire

TL;DR

  • Devyani International, operator of KFC and Pizza Hut, plans to merge with rival Sapphire Foods India.
  • The deal aims to accelerate KFC expansion and improve Pizza Hut's market position in India.
  • The transaction is valued at approximately $934 million and is expected to take 12-15 months to complete.
  • The merger is anticipated to create significant annual synergies for Devyani International.
  • Yum! Brands views India as a high-priority market with substantial growth potential.

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