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Britannia Industries Updates on acquisition of stake in Dubai, Oman based companies
Posted On : 2007-03-20 09:39:24( TIMEZONE : IST )
With reference to the earlier announcement dated December 13, 2006 Britannia Industries Ltd has announced that the Company has formed a Joint Venture with Khimji Ramdas Group to run two bakery product Companies in the fast growing Middle East market. The Company and its Associates have acquired 70% beneficial stake in Dubai based Strategic Foods International LLC and Oman based Al Sallan Food Industries Co SAOG. The two Companies are significant regional players in biscuit and cookies segment in the GCC markets and export their products to over 70 countries around the world. The Companies have a combined annual turnover in excess of approx Rs 160 crores with leading brands such as Nutro, Family Choice and Bakers Pride.
