Indiantelevision.com Team

(20 March 2007 8:30 pm)

BANGALORE: Britannia Industries Limited announced on Tuesday, 20th March 2007 that it has formed a Joint Venture with Khimji Ramdas Group to run two bakery product companies in the fast growing Middle East market. Britannia 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.

Mr. Kanak Khimji of Khimji Ramdas Group said “We are happy to partner with Britannia, an established market leader in bakery products business in India, and together we are confident of expanding the business.

Britannia Industries Ltd is a major player in the Indian Foods market with leadership position in Bakery category. Its brand portfolio includes Tiger, Good Day, Marie Gold, Treat, Milk Bikis and 50:50. The Company recorded turnover of Rs 1818 Crores in the year ended 31st March 2006, and has been growing at the rate of 25 % in the first three quarters of 2006-07.

Khimji Ramdas Group is one of the oldest and most reputed conglomerates in UAE with diverse business interests in distribution, manufacturing and services. Its product portfolio ranges from FMCG and lifestyle goods to furniture and home appliances.