New Delhi, August 15
Devyani International Limited (DIL), the largest franchisee of Yum! Brands in India, on Sunday announced the extension of its partnership with Costa Coffee for a period of five years. The company said that it has entered into a revised development agreement for its existing Costa business.
“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,” the company said in its statement.
Costa Coffee was acquired by the Coca-Cola Company in 2018 from Whitbread Plc. The acquisition was completed in 2019.
In India, DIL has been the franchisee for the Costa Coffee brand and stores in India and currently operates 44 Costa Coffee restaurants.
Being the largest franchisee of Yum! Brands in India, DIL is also the leading quick-service restaurant operator for brands such as KFC and Pizza Hut in the country. It is also part of the RJ Corp, which is PepsiCo’s largest bottler in India.
As of June 30, the company operates 735 stores in India, Nepal and Nigeria.