Devyani International to Divest 51% Stake in Peanutbutter & Jelly to Heritage Foods

Devyani International Limited has entered into a Share Purchase Agreement to sell its entire 51% stake in Peanutbutter and Jelly Private Limited — owner of the Get-A-Way brand — to Heritage Foods Limited for ₹9 crore. The sale, executed by its subsidiary Sky Gate Hospitality, is expected to be completed by January 31, 2026. Peanutbutter and Jelly became a step-down subsidiary of Devyani only in June 2025, following its acquisition of Sky Gate Hospitality. As such, it contributed no revenue or income to Devyani during FY2024-25. The transaction is an arm’s length deal, not classified as related-party, and reflects Devyani’s strategy of portfolio optimization and focusing on its core quick-service restaurant business. Post-sale, the entity will cease to be part of Devyani’s group structure. While the financial impact is minimal, the move highlights active asset management and value realization from recent acquisitions.