Heritage Foods is reportedly all set to set up a joint venture (JV) with Novandie SNC based in Rue de la Republique, Maromme, France. The 50:50 joint venture will be incorporated with authorised capital of Rs 1 crore and the JV will manufacture and market fruit and flavoured yogurts and western style desserts.
Each company will nominate two directors and set up a Greenfield plant with an investment of Rs 16 crore for the first plant whose commercial operation is expected during 2018.
Heritage Foods is one of the fastest growing Private Sector Enterprises in India, with five-business divisions - Daily, Retail, Agri, Bakery and Renewable Energy under its flagship Company Heritage Foods.
