Ahead of IPO listing, Devyani International extends partnership with Costa Coffee; gets development rights for PAN India in phased manner- Details here

Devyani International Limited (DIL) on Sunday announced the extension of partnership with Costa Coffee. DIL has entered into a revised development agreement for its existing Costa business on August 14, 2021, pursuant to which DIL has been granted development rights for PAN India in a phased manner.

This agreement has initially granted development rights for a period of 5 years and extendable from time to time subject to meeting of development and contractual obligations, as per the information provided by the company.

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Devyani International Limited is the largest franchisee of Yum Brands in India and are among the largest operators of chain quick service restaurants (QSR) in India, on a non-exclusive basis, and operate 735 stores across India, Nepal and Nigeria as of June 30, 2021.

Yum! Brands Inc. operates brands such as KFC, Pizza Hut and Taco Bell brands and has presence globally with more than 50,000 restaurants in over 150 countries, as of December 31, 2020.

In addition, DIL is a franchisee for the Costa Coffee brand and stores in India. The business is broadly classified into three verticals that includes stores of KFC, Pizza Hut and Costa Coffee operated in India (“Core Brands”), stores operated outside India primarily comprising KFC and Pizza Hut stores operated in Nepal and Nigeria (“International Business”), and certain other operations in the F&B industry, including stores of own brands such as Vaango and Food Street (“Other Business”).

Costa Coffee was founded in London by Italian brothers Sergio and Bruno Costa in 1971 and is present in 41 countries around the world, with over 2,800+ coffee shops in the UK&I and 1,100+ globally.

DIL’s first Costa Coffee store in India opened in 2005 at Delhi and as on June 30, 2021 operated 44 Costa Coffee stores located in eight states and one union territory, across 17 cities in India.

The Company currently operates two formats of Costa Coffee stores, namely full retail stores at high-street locations and malls, and branded kiosks at airports, hospitals and food courts at highways.