Britannia Industries Limited, a manufacturer of packaged foods, announced on Tuesday that it has formed a joint venture with French cheese producer Bel SA to create, produce, market, and sell cheese products in India and other nations.
The Laughing Cow, Boursin, Kiri, and other brands are only a few of the cheeses that France-based Bel S.A. sells. Bel creates more than 30 domestic and foreign trademarks that are distributed in more than 130 nations.
According to the terms of the arrangement, Britannia Industries Ltd. would own 51% of BDPL and Bel will own 49%. BDPL now works in the cheese industry, which involves marketing, trading, and other activities related to the sale of cheese products. According to regulatory records, Bel's cost of purchase for its interest in BDPL was Rs206.5 crores, while Britannia Industries' cost of acquisition was Rs214.9 crores.
The revenue for BDPL in FY22 was Rs340 crores.
Of course, Britannia already markets curd, processed cheese, and flavoured milk drinks under the Dairy Fresh brand in India.
In the meantime, Britannia has sharpened its focus on India's already-competitive diary sector. The company stated in its FY22 annual report that as part of its efforts to develop dairy's back-end capabilities, it had invested in a cutting-edge manufacturing facility at Ranjangaon.
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