Britannia Industries has entered into a Joint Venture Agreement (JVA) with Bel SA, France (Bel) and Britannia Dairy (BDPL) on November 29, 2022 to undertake the development, manufacturing, marketing, distribution, trading and selling, etc., of cheese products in India and certain other countries (Territory).
As a part of the JVA, Britannia shall sell and transfer 49% of its equity stake in its wholly owned subsidiary, BDPL, to Bel in accordance with the terms of the Share Purchase Agreement entered between Britannia and Bel, on November 29, 2022 (SPA). Consequently, Bel shall become the legal and beneficial owner of 49% of the entire issued, subscribed and paid?up equity share capital of BDPL and the balance 51% shall continue to be held by Britannia. BDPL will become a Joint Venture Company (JV Company) of Britannia and Bel in India which will carry out/undertake the cheese business in the Territory. Further, as a part of the JVA, BDPL will allot equity shares to Britannia and Bel, in accordance with the terms of the Share Subscription Agreement entered between Britannia, Bel and BDPL, on November 29, 2022 (SSA).
Britannia Industries is one of the India’s biggest brands of the country. More-than-a-century old Britannia has launched big brands in FMCG segment.
| Company Name | CMP |
|---|---|
| Varun Beverages | 474.05 |
| Nestle | 1285.65 |
| Britannia Inds | 5733.75 |
| LT Foods | 422.10 |
| Hatsun Agro Product | 979.20 |
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