Britannia Industries has restated its ambitions to expand and diversify its product range through acquisitions, an executive of the Indian biscuit maker has said.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Speaking to the Dow Jones Newswires, chief financial officer Durgesh Mehta said: “Our objective is to grow significantly beyond biscuits in the foods segment in the local market and exploratory work (on acquisitions) is on.”
Mehta didn’t name possible targets but did say Britannia was “open” to paying a premium if the target company offers a high growth prospect. He also added that Britannia will target its purchase in the ready-to eat, ready-to cook and snack segments.
In September, Britannia confirmed to just-food that it is currently on the look out for acquisition opportunities, including potential overseas acquisitions.
In March this year, Britannia and its associates acquired a 70% beneficial stake in Dubai-based Strategic Foods International and Oman-based Al Sallan Food Industries.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
