INDIA: Britannia plans Gulf expansion
Indian Biscuit manufacturer Britannia Industries Limited has announced an expansion drive in the Gulf region, in partnership with Strategic Food International Company (SFIC), in which it holds a 70% stake.
Britannia view's the Gulf region as a potential hub for further expansion in the African continent, Vinita Bali, managing director at Britannia told just-food.
"The Gulf is a fast growing market for our products and we see it as a springboard into other countries in Africa," Bali said.
SFIC manufactures biscuits at its production facility in Sohar, Oman. Britannia holds a 17% market share in the GCC countries, up 3% from last year, and also exports biscuits manufactured at the Sohar plant to over 50 countries.
"We are aiming towards revenue of AED140m (US$38.1m) this financial, and we will increase our share to 30% within the region," said Britannia's CEO Arvind Kumar told just-food.
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