HomeNewsThe joint venture between Britannia and Bel SA will result in the...

The joint venture between Britannia and Bel SA will result in the sale of 49% of Britannia Dairy.

BIRA 91 Taproom

BIRA 91 brings new vibes to Delhi with second taproom at Pacific Mall, Tagore...

Building on t͏he ͏succe͏s͏s of ͏i͏ts ͏fiv͏e͏ existing outl͏et͏s nation͏wide͏, ͏BIRA 91 h͏as͏ pr͏oudly͏͏ opened ͏͏͏its sec͏on͏d͏ Taproom in Delhi.͏͏͏ ͏Sit͏uated in the vibr͏ant͏...

IHCL reports 12% YoY growth in net profit, reaching INR 248 Cr in Q1

Indian Hotels Company Ltd (IHCL), th͏͏͏e ͏o͏perato͏͏͏r of Taj hotels, ha͏s recorde͏d͏ a 12% ͏y͏͏ear-͏͏o͏͏n-year i͏͏ncrea͏s͏͏e͏ ͏in ͏co͏nso͏l͏idated͏ net͏ pr͏͏ofit͏ for Q1͏͏͏ FY͏25, dri͏ven...

The Bel Group produces popular cheese brands like The Laughing Cow, Kiri, Babybel, Boursin, and Nourish and is also a significant player in the healthy snacking market.

Britannia Industries, which makes biscuits and dairy goods, has formed a joint venture with Bel SA of France and Britannia Dairy Private Limited (BDPL) to create, manufacture, and distribute cheese products in India and other countries.

According to the Economic Times (ET), Bel SA will acquire a 49 percent stake in Britannia’s wholly-owned subsidiary Britannia Dairy Private Limited (BDPL) as part of the joint venture and inject an additional Rs 215 crore into the experience.

According to the reports, the company would change its name to Britannia Bel Foods Private Limited.

The executive vice-chairman and managing director of Britannia Industries, Varun Berry, told ET that the collaboration would open up new opportunities for consumers to enjoy cheese. By partnering with Bel Group, Britannia will supply India with cheeses of world caliber.

BDPL, a Britannia and Bel joint venture in India, will operate a cheese factory in that country. Furthermore, the business stated in a regulatory filing that as part of the JV, BDPL would award equity shares to Britannia and Bel in line with the provisions of the share subscription agreement entered into by Britannia, Bel, and BDPL.

After the arrangement is finalized, Britannia will continue to hold 51% of BDPL, and Bel SA will possess the remaining 49%. At present, BDPL is engaged in the business of marketing, trading, and selling cheese products. BDPL’s revenue of Rs 340 crore in FY 2021-22 represents roughly 2.4% of Britannia Industries’ total revenue.

This JV will manufacture cheese products at a brand-new, state-of-the-art plant in Ranjangaon, Maharashtra. Products will use both the Britannia and The Laughing Cow logos on the packaging.

The joint venture chief executive will be Abhishek Sinha, who formerly served as CBO of the dairy division.

According to Berry, the cheese market is underserved, but the two companies’ collaboration will change that.

“This strategic alliance with Britannia in India is a new step for Bel Group’s development in Asia,” stated Cecile Beloit, CEO of BEL Group. In India, where we have been operating in “startup mode” for the past four years, we plan to increase our pace.

Amul, Britannia, Mother Dairy, and Govardhan dominate India’s roughly Rs 4,000 cr cheese market.

Britannia’s overall net profit increased by 28 percent year over year, reaching Rs 490 crore for the quarter ending in September 2022. The company that bakes Good Day and Nutrichoice biscuits had a 21 percent growth in consolidated revenue from operations, to Rs 4,379.61 crore, in the most recent quarter compared to the same period a year ago.

Latest articles

Teriyaki Madness expands to Lynchburg with new franchise agreement

Amer͏ican re͏staurant chain Teriyaki Madness (TMAD) has ink͏ed a franchise agreement to debut its...

Pernod Ricard’s Brancott Estate teams up with Made for Drink to elevate wine pairings with new crisp varieties

Pernod Ricard's Brancott Estate has teamed up with Made for Drink to͏ craft two...

Birds Eye enters UK chips market with ‘Crispy Chips’

Birds Eye is making its debut in the chips mark͏et with ͏the laun͏ch of...

Freja launches innovative bone broth shake line for convenient, on-the-go nutrition

Freja, a ͏r͏eno͏wn͏ed͏ bone broth bra͏͏nd, has un͏vei͏led its la͏test͏ in͏n͏ovati͏on:͏ Bone Broth Shakes.͏...

Related Articles

Burma Burma announces INR 40 Crore investment plan to double presence by 2025

Burma Burma, the Burmese restaurant chain, has ambitious plans to increase its number of...

McDonald’s Australia to open new outlet at Brisbane Airport, fuelling local economy and job market

McDonald's Australia is set to open a new restaurant at Brisbane Airport's Domestic Terminal...

Lemon-Cucumber Detox Water: The magical Recipe to reduce weight

Our lifestyle has changed a lot and so do our food habits. This leads...
× Drop a, Hi?