×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Britannia mulling partnership for dairy biz, may merge subsidiaries

Britannia mulling partnership for dairy biz, may merge subsidiaries
Comment E-mail Print Share
First Published: Sun, Aug 07 2011. 01 04 PM IST
Updated: Sun, Aug 07 2011. 01 04 PM IST
Kolkata: Biscuit maker Britannia Industries Ltd is weighing the option of partnering a global dairy company to strengthen its dairy business. Britannia earned Rs250 crore in revenue from its dairy business in fiscal 2011.
“We will be willing to consider, (an alliance) if we find a company that will add value to our dairy business,” Vinita Bali, Britannia’s managing director said at a press conference in Kolkata on Saturday.
Britannia, however, has no immediate plans of roping in a partner for its dairy business, she clarified.
Britannia’s promoters, the Wadia family had bought out French dairy firm Danone’s 25.5% stake in the Indian company in 2009 capping a two-year dispute over the Tiger brand.
Alongside, Britannia would consider consolidating its subsidiaries for “operational simplification”, its chairman Nusli N. Wadia said at the company’s annual general meeting on Saturday.
“We have too many subsidiaries and need to reduce them,” Wadia said
According to Britannia’s annual report for 2010-11, the company has some 18 subsidiaries.
Some of these are defunct investment companies, Bali said. “These companies have no relevance to us and may... get merged in order to simplify operations,” she added.
manish.b@livemint.com
Comment E-mail Print Share
First Published: Sun, Aug 07 2011. 01 04 PM IST
More Topics: Britannia | Nusli Wadia | Vinita Bali | Dairy | Biscuit |