French dairy producer Bel Group has entered into a joint venture with Britannia Industries to develop, manufacture and sell cheese products in India and some other markets.
Bel Group will acquire 49% stake of Britannia’s wholly-owned subsidiary Britannia Dairy Private Limited for INR 2.62bn (US$32.1m).
“This strategic partnership with Britannia in India is a new step for Bel Group’s development in Asia, in line with our mission to deliver healthier and more responsible food for all. Thanks to this joint venture, we will accelerate in India, after 4 years of presence in “start-up mode” which had enabled us to confirm the relevance and the potential of our product offers commented Cécile Béliot, Chief Executive Officer at Bel Group.
The products will be produced in the joint venture’s new facility and they will be co-branded using the trademarks ‘Britannia’ and ‘The Laughing Cow’.
Source: Best Media Info