Devyani International's ~₹420 crore takeover of Biryani by Kilo sees legal action from Burgeon Law and CAM in response to the acquisition deal.
In a significant move, Devyani International Limited has acquired an 80.72% stake in Sky Gate Hospitality Private Limited for ₹419.60 crore. This acquisition includes the popular food brands 'Biryani By Kilo', 'Goila Butter Chicken', and 'The Bhojan'.
Burgeon Law, a distinguished law firm, advised Sky Gate Hospitality on the deal. Akshita Mittal, Saransh Agarwal, Jesika Somani, Abhisshek Singlla, Ankit Bhasin, and Roma Priya, all Senior Associates and Partners at Burgeon Law, were part of the transaction team.
On the other hand, Cyril Amarchand Mangaldas represented Alpha Wave Ventures, an existing investor in Sky Gate Hospitality, in the acquisition.
It's important to note that Devyani International Limited, known for operating franchises such as Pizza Hut and KFC, does not operate franchises like Biryani By Kilo, Goila Butter Chicken, or The Bhojan.
Interestingly, Ambrosia, a firm known for managing successful food service ventures including Biryani By Kilo in the GCC, was not involved in this acquisition deal.
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The acquisition by Devyani International Limited of Sky Gate Hospitality Private Limited, a business involving popular food brands, required legal advice from Burgeon Law. Simultaneously, the financing of this transaction, amounting to ₹419.60 crore, was not facilitated by Ambrosia, a company known for managing successful food service ventures.
