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Britannia Signs Pact With Greek Bakery Company


Britannia Signs Pact With Greek Bakery Company
Chipita is present internationally in 4 major product categories - croissants and similar dough products, savoury snacks (bake rolls), cakes and confectionery.
Press Trust of India | Last Updated: February 21, 2017 16:01 (IST)


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Britannia shares ended 0.53% lower on Tuesday.
New Delhi: FMCG major Britannia on Tuesday said it has signed a memorandum of understanding (MoU) with Greek cakes and confectionery major Chipita and is in advance stage of discussion to finalise definitive agreements including a JV.

"This is inform you that the company has signed a non-binding Memorandum of Understanding (MOU) with Chipita, a Greek company for exploring certain business opportunities. The company is in advance stage of discussion with Chipita to finalise definitive agreements inter-alia include joint venture (JV) agreement," Britannia Industries said in a filing to the Bombay Stock Exchange or BSE.

Chipita is present internationally in 4 major product categories - croissants and similar dough products, savoury snacks (bake rolls), cakes and confectionery.



Chipita is already operating in India. The company has been operating outside Greece since 1995 by setting up manufacturing plants in Bulgaria, Portugal and Egypt, followed by Poland, Romania, Russia and Saudi Arabia and more recently India, and Turkey.

Britannia shares ended 0.53 per cent lower at R
s.
3,236.15 apiece on the BSE, whose benchmark Sensex index finished with a gain of 0.35 per cent.



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Story first published on: February 21, 2017 16:01 (IST)
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