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.