Interesting developments in last 2-3 months -
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Britannia signed a JV agreement with Chipita, a Greek co. ( www.chipita.com ). For the purpose of developing, producing and selling ready-to-eat filled croissants, etc. Seems a good combination of technologies, recipes and experience from Chipita’s side and consumer knowledge, distribution and marketing from Britannia’s side. Britannia is looking for similar JV in dairy business. Good to see Britannia is willing to incorporate learning from not so successful JVs of past i.e. i) in 2002, with New Zealand’s Fonterra Dairy and ii) in 2009, ended association with French foods and dairy giant Danone.
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Britannia has decided to create a fund which would be like a venture cap fund which will invest in some of the interesting food startup and take an early stage stake. Seems this is one of best home for the cash. Should have initiated this earlier in my opinion. Market would have liked Britannia a whole lot more if had done an early stage investing in opportunities like Balaji wafers ( www.balajiwafers.com) and/or iD ( www.idspecial.com and/or Paperboat ( www.paperboatdrinks.com) - isn’t it?
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Britannia is looking at setting up operations in Nepal.