New Delhi: Biscuit market leader, Britannia Industries is looking at strengthening its international presence by entering new markets and enhancing synergies with its existing Middle East operations.
Britannia, which had acquired 70% stake in Dubai-based biscuit and wafer manufacturing company Strategic Food International Co (SFIC) last year, is looking to establish a strong presence in the Middle East market.
“Strengthening the business in international market is our first priority and we would like foreign markets to grow substantially,” said Neeraj Chandra, vice-president, sales, marketing, and innovation, Britannia India, at the launch of a new product , Tiger Banana.
He said Britannia was also planning to get into new geographies but declined to give specific details about the company’s moves in the near future.
The Middle East company SFIC offers over 55 varieties of biscuits, wafers and cookies with a product range of over 55 variants marketed in 70 countries spread over 6 continents.
“SFIC deals in marketing and manufacturing other companies’ products around the world and Britannia will also seek to benefit from the same,” Chandra said.
The company’s turnover in 2006-07 wasRs 2,200 crore with around 90-95% coming from the domestic market.
Speaking about new product launches and new categories, Chandra said “we are continuously evaluating options to grow our business”.
Britannia which formed a joint venture with dairy company Fonterra by the name of Britannia New Zealand Foods in 2002, will launch a range of products in the segment in next few quarters.
“Dairy is surely an important business for us and we will continue to build on that area,” Chandra added.