Devyani International Acquires Sky Gate Hospitality, to Sell Peanutbutter Subsidiary to Heritage Foods Limited

Devyani International Ltd has acquired ~ 80.72% equity stake in Sky Gate Hospitality Private Limited, along with its subsidiaries Blackvelvet Hospitality Private Limited, Say Chefs Eatery Private Limited, and Peanutbutter and Jelly Private Limited. Sky Gate holds 51% equity stake in Peanutbutter. Recently, Sky Gate executed a Share Purchase Agreement with Heritage Foods Limited for sale of its entire 51% equity stake held in Peanutbutter. Upon completion of the sale, Peanutbutter will cease to be a subsidiary of Sky Gate and a step-down subsidiary of Devyani International.