Britannia acquires 49 pc stake in Fonterra

Mumbai, Apr 28: Britannia Industries Ltd, the biscuit major in India in a filing to the Bombay Stock Exchange (BSE) said that it has bought its partner Fonterra's 49 pc stake in their joint venture in New Zealand i.e. Britannia New Zealand Foods (BNZF).

The biscuit major in 2002 had set up a dairy business with Fonterra Co-operative Group, which is one of the largest diary companies. Now, after the acquisition the Indian firm have complete control of BNZF.

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