Talks between Britannia Industries and Chipita over a possible venture have culminated in a deal being signed between the Indian food group and the Greek snacks maker.
Britannia said yesterday (28 March) the businesses, which last month announced there were in discussions, had agreed to form Britchip Foods.
Go deeper with GlobalData
The companies will initially invest INR1bn in the venture, with Britannia owning 60% of the unit. Britchip Foods will market “ready-to-eat, long-life filled croissants and any other product as may be agreed between the parties”, Britannia said.
Under the terms of the deal, Britannia has a first right of refusal on Chipita’s 40% stake should the Greek firm plan to offload its shares once an initial ten-year lock-in period elapses.
Chipita’s operations focus primarily on four product categories: croissants, savoury snacks such as baked rolls, cakes and confectionery. The company operates brands including Fineti, 7 Days and Chipicao. The company’s products are sold in 66 countries around the world, including India. Chipita manufactures products in 17 plants located in nine different countries.
See Also:
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
