Kolkata: Food major Britannia Industries has entered into a joint venture agreement (JVA) with Bel SA, France 2022, to undertake the development, manufacturing, marketing, distribution, trading and selling of cheese products in India and certain other countries. The JV will be executed through Britannia Dairy (BDPL), a wholly owned subsidiary of Britannia. The entity thereafter shall be renamed as Britannia Bel Foods.
The cheese products will be produced in the JV’s new, state-of-the-art-facility at Ranjangaon, Maharashtra. The facility is backward-integrated to collect milk from local farmers in the region. The products will be co-branded using the trademarks Britannia and The Laughing Cow and will be introduced in innovative formats, to ride on the fast-growing cheese category in the country. Abhishek Sinha, chief business officer (dairy business), Britannia, is named the CEO of the JV. As a part of the JVA, Britannia shall sell and transfer 49% of its equity stake in its wholly owned subsidiary, BDPL, to Bel in accordance with the terms of the share purchase agreement entered between Britannia and Bel.
Varun Berry, executive vice-chairman and MD, Britannia Industries, said, “Britannia’s partnership with Bel Group will enable consumers to enjoy international quality cheese products that will now be made in India. Cheese is an under-penetrated category.”
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