India’s Chatha Foods and Frigorifico Allana have formed a joint venture to manufacture and sell ready-to-cook and ready-to-eat meat and chicken products.
The venture will cater to both domestic and international markets, focusing on the production, processing, storage, freezing and sale of the products, according to a stock-exchange filing.
It will also be engaged in the distribution and transportation of the food items.
Under the terms of the agreement, Chatha Foods will hold a 70% stake in the JV, while Frigorifico Allana will have a 30% share.
The companies aim to enhance their “competitive positioning” and offer customers “innovative products and services”.
Chatha Foods’ chairman and managing director Paramjit Singh Chatha said: “Together, we will strengthen our market position and work towards achieving significant milestones in the food industry.”
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By GlobalDataThe companies plan to set up a processing plant, with the capacity to produce 6,000mt of RTC/RTE meat and 4,500mt of chicken products annually.
The facility will operate under the legal entity Allana CF Foods, located in the city of Aurangabad, in the state of Maharashtra.
It is expected to be operational by October this year or earlier, Chatha Foods said in a LinkedIn post.
The board of the JV company will comprise three directors, with Chatha Foods appointing two and Frigorifico Allana appointing one.
The companies have assured that there is “no potential conflict of interest” arising from the deal.
Chatha Foods will be responsible for managing the construction, commissioning, and operations of the JV and plant, as well as ensuring the adequacy of internal systems and processes.
Frigorifico Allana is known for processing and exporting food products, with a focus on frozen and chilled meat.
Chatha Foods specialises in the production, processing, and distribution of poultry products, particularly RTC and RTE chicken and meat products.
