Delhi, Suresnes, November 29th, 2022: Britannia Industries Ltd. (BIL), India’s leading Food Company and Bel, the renowned French cheese maker and major player in healthy snacking, announced today that they have signed an agreement to enter into a joint venture to offer Indian consumers a world-class range of nutritious, delicious and accessible cheese products. Bel shall acquire 49% stake in Britannia’s wholly owned subsidiary BDPL (Britannia Dairy Private Limited). The entity thereafter shall be renamed as ‘Britannia Bel Foods Private Limited’.
By joining forces through the JV, Bel Group and Britannia will create the best conditions to accelerate the development of the nascent cheese market in India thanks to the strategic complementarity of the two companies. Britannia Industries will hold 51 per cent stake in the Joint Venture Company, while Bel Group will hold 49 per cent.