GURGAON – India’s KFC and Pizza Hut operators Sapphire Foods and Devyani International said on Jan 1 they will merge in a US$934 million (S$1.2 billion) deal, creating a fast-food franchisee ...

The deal comes as India's fast-food franchisees grapple with higher costs, slowing same-store sales and margin pressure, while facing stiff competition from McDonald's (MCD.N), opens new tab and ...