Competition Commission of India (CCI) has approved the proposed merger between Yum Restaurants (India) and Devyani International.
Yum Restaurants is a part of the US-based restaurant chain Yum! Brands and operates restaurants under the KFC, Pizza Hut and Taco Bell brands in India.
Devyani International is one of the franchisees of Yum Restaurants and runs KFC restaurants, as well as Pizza Hut and Pizza Hut Delivery, in certain areas of India.
In a statement, the Corporate Affairs Ministry said: “The Competition Commission of India (CCI) approves the proposed combination between Yum Restaurants (India) Private Limited (YRIPL) and Devyani International Limited (DIL) involving acquisition of certain equity shareholding and sale of certain KFC restaurants.”
In June 2019, it was reported that Yum! Brands’ KFC India was selling 61 equity-owned restaurants to Devyani International (DIL) for an undisclosed amount as part of its strategy to exit capital-intensive operations.
Meanwhile, India’s multinational conglomerate company Reliance Industries (RIL) is all set to partner with Milan-based luxury firm Emporio Armani to enter the restaurant business.
RIL is a master franchisee of Armani, operating Emporio Armani, Giorgio Armani and Armani Exchange-branded stores in India.
Reliance intends to open its first Emporio Armani restaurant in its upcoming luxury mall in Bandra Kurla Complex in Mumbai, the Economic Times reported.
Currently, Armani operates nearly 20 restaurants in Paris, Milan, New York, Dubai, Tokyo and Munich.