Britannia Industries, has signed a non-binding memorandum of understanding with Greek company, Chipita BIL said on Tuesday.
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Ina regulatory filing, BIL said that it has signed a non binding memorandum of understanding with Chipita, a Greek company for exploring certain business opportunities.
“ The company is in an advanced stage of discussion with Chipita to finalise definitive agreements which inter alia includes joint venture agreement,” it said. Presently the 123-year old mother-brand marks a presence in biscuits, breads, cakes, rusk and dairy products including value-added ones like cheese.
The company said that it is working not only in the new-launch space in biscuits but also in the adjacent macro snacking space.
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Chipita said on its website that it started in 1973 , producing and marketing savoury snacks – mainly croissants and similar dough products like bakery rolls. Since 1995, it has marked a presence outside the country and now has 38 production lines in 11 manufacturing facilities in several countries including India. EOM