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French co. Bel to acquire 49% stake in cheese products focused Britannia Dairy for Rs.262-Cr BSE

BSE Disclosure   Mint  

Publicly listed Britannia Industries Ltd is to sell a 49% stake in its cheese products focused unit, Britannia Dairy Pvt Ltd (BDPL), to France-based Bel SA for INR 262 crore. The new joint venture (JV) will focus on cheese products in India and certain other territories. The JV's board shall consist of 3 directors from Britannia and 2 directors from Bel. The turnover of BDPL for FY22 was about INR 340 crore (2.4% of the consolidated sales of Britannia) and its Net Worth was INR 130 crore (5.1% of the consolidated Net Worth of Britannia).