French cheese maker Bel Group has announced a joint venture with India's Britannia Industries Ltd (BIL), which will see the former acquire a 49% stake in BDPL (Britannia Dairy Private Limited).
BDPL, a wholly-owned subsidiary of Britannia, will be renamed 'Britannia Bel Foods Private Limited', with Britannia Industries holding a 51% stake in the joint venture.
Commenting on the joint venture, Varun Berry, executive vice president and managing director of Britannia Industries, said, "Britannia's partnership with Bel Group will enable consumers to enjoy world-class cheese products that will now be manufactured in India. [...]
"This joint venture will help Maharashtra's milk producers gain substantial and greater market access through our yield-optimised milk collection initiative, which has grown significantly over the past three years."
Bel, Britannia Joint Venture
The joint venture aims to bring a range of nutritious, delicious and affordable cheese products to the Indian market.
The cheese products will be manufactured at the joint venture's new state-of-the-art facility in Ranjangaon, Maharashtra, with milk collected from local farmers in the region.
The products will be marketed under a combination of the 'Britannia' and 'The Laughing Cow' brands and will be introduced in innovative formats to capitalise on the rapid growth of the cheese category in the country, Bel Group noted.
Abhishek Sinha, chief business officer of dairy business at Britannia, has been appointed as CEO of the joint venture.
Cécile Béliot, CEO of Bel Group stated, "This strategic partnership with Britannia in India is a new step for Bel Group's development in Asia, in line with our mission to offer healthier and more responsible food for all.
"We are proud to partner with Britannia, a company with an iconic brand in India and a powerful distribution system. By combining their expertise with our iconic brand The Laughing Cow, and our know-how and knowledge of cheese products, this joint venture is well-positioned to offer delicious, nutritious and affordable cheese products to all Indian consumers and become a leader in the growing Indian cheese market."
© 2022 European Supermarket Magazine – your source for the latest A-Brands news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
