FKS ACQUIRES HYDERABAD HOUSE CHAIN

Food Krafters & Services (FKS) led by Shanta Biotech co-founder Khalil Ahmed has acquired Hyderabad House (HH), a city-based restaurant chain specialised in biryani and Deccan delicacies.

According to sources, the deal does not involve any cash payout and the existing promoters would get a stake in the acquiring company.

“Hyderabad House was an iconic brand. But of late, it has not been doing well... After this acquisition, we will pump in money to rebrand and set up outlets across the country,” said Khalil Ahmed, managing director of Food Krafters and Services.

The company plans to open a flagship outlet in Hyderabad. It also plans to expand across the country by setting up 50 outlets with an investment `35 crores in next two years. The expansion would be done through a combination of company owned and franchisee route.

“A central commissary will be set at each regional hub which will cater to the outlets in that territory,” FKS statement said.