Britannia Industries, India’s leading baked goods company, has formed a joint venture with Khimji Ramdas Group to run two bakery product companies targeting the Middle Eastern market.
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Britannia and its associates have acquired a 70% beneficial stake in Dubai-based Strategic Foods International and Oman-based Al Sallan Food Industries. Britannia described these two groups as significant regional players in the biscuit and cookies segment in the GCC markets. The groups control leading brands such as Nutro, Family Choice and Bakers Pride and export their products to over 70 countries around the world.
Commenting on the JV, Vinita Bali, Britannia MD, said, “We are pleased to partner with Khimji Ramdas Group which is one of the largest and most respected business conglomerates in the Middle East since 1870. The joint venture will provide an opportunity to grow the international footprint by leveraging on the complimentary strengths of the two partners”.
