In a bid to strengthen its dairy business, Biscuit maker Britannia Industries is reportedly eyeing potential partner. Moreover, the company is planning to discontinue few brands in this segment as part of a strategy to focus on higher margin products.
This will be the company’s third attempt at a joint venture in the dairy segment, which has been dragging its overall growth. In 2002, Britannia had formed a joint venture with New Zealand-based Fonterra Dairy to sell milk and milk products under the Milkman Brand. After recording losses, Fonterra exited in 2009 and sold its 49% stake to Britannia.
Britannia Industries, one of the India’s biggest brands of the country, has a market share of over 33%. More-than-a-century old Britannia has launched big brands in FMCG Segment. The company is expanding its customer base by launching new products and renovating existing ones.
