Britannia acquires stake in W Asian bakery cos
New Delhi, Mar 20 (UNI) Britannia Industries has acquired 70 per cent beneficial stake in Dubai-based Strategic Foods International LLC and 0man-based Al Sallan Food Industries Co SAOG to run bakery product companies.
For this purpose, it has formed a joint venture with Khimji Ramdas Group, largest business conglomerate in West Asia to tap the fast growing market.
The two companies are significant regional players in biscuit and cookies segment in the Gulf Cooperation Council (GCC) markets and export their products to over 70 countries around the world.
Both the companies have a combined annual turnover in excess of Rs 160 crore with leading brands such as Nutro, Family Choice and Bakers Pride.