Nestlé, the world’s largest food manufacturer which has just reported H1 profits up nearly 35%, has bought out its partner in Excelcia Food, its controversial Indian joint venture. Dabur India Ltd relinquished its 40% stake in the biscuit maker for a token amount of Rs10, in a move which signals its exit from the sector altogether. Dabur and Nestlé took some six months to complete negotiations setting up the JV, and it seems that the partnership never really firmed up. Dabur is primarily active in the healthcare industry.
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