Devyani International and Sapphire Foods India announced a merger to form India’s biggest quick-service restaurant entity, operating over 3,000 KFC, Pizza Hut, and Taco Bell outlets effective April 1, 2026. Approved via share-swap (177 DIL shares for 100 SFIL shares), the deal awaits regulatory nods and is expected to complete in 12-15 months.
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