Britannia earmarks Rs 175-200 cr capex for expansion

Kolkata, Aug 01 (UNI) Leading biscuits and dairy products maker Britannia Industries Ltd has earmarked Rs 175-200 crore for investment in capacity expansion in the next 2-3 years.

The company is also eyeing acquisition opportunities in the foods and snacks sector in India and abroad, company's managing director Vinita Bali told reporters today in the sidelines of the annual general meeting here.

The company would hike capacities in the existing plants in Uttaranchal, Delhi, Chennai and Kolkata and identify contract manufacturing units to outsource products to meet demand in geographical areas requiring higher supply.

The expansion would be funded through internal accruals and borrowings, Ms Bali said.

Britannia is also eyeing organic growth through launch of variety of biscuits and other products. The company, which invested Rs 10 crore for a stake in Bangalore based Daily Bread Pvt Ltd for entry into freshly baked gourment food sector, would raise the stake further in future to put up its products in modern malls and food marts, the MD said.

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