Sapphire Foods, Devyani International to merge to create fast-food franchisee giant in India

Reuters01-01

Jan 1 (Reuters) - Sapphire Foods India SAPI.NS said on Thursday it will merge with Devyani International DEVY.NS, in a move that is likely to consolidate local franchisee partners of Yum Brands YUM.N, the owner of KFC and Pizza Hut.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Howard Goller)

((Hritam.Mukherjee@thomsonreuters.com; X: @MukherjeeHritam;))

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