Leading Indian manufacturer of bread, snacks and dairy products Britannia Industries has confirmed to just-food that it is currently on the look out for acquisition opportunities, including potential overseas acquisitions.
Reports in the Indian press have suggested that Britannia is seeking a major foreign purchase that would aid the transition of the company from a local to a global force. In particular, Britannia is thought to be eyeing the health food and drinks sector. Reports have suggested that a deal could be inked in the next six to eight months.
When contacted by just-food, a representative for the company confirmed that Britannia is currently looking for potential acquisitions, but refused to put a timescale on completion of any takeover agreements.
“We have publicly stated that we are actively seeking acquisition opportunities, and that could mean international expansion. It is far too early to say if any deal will come to fruition, let alone when this might be,” the company source said.