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Britannia Industries, the FMCG major has entered into a joint venture with Greek firm Chipita SA to produce and sell ready to eat croissants in India.
The FMCG major has said in a BSE filing that “The company has signed a joint venture agreement with Chipita SA, a Greek company for the purpose of developing, producing and selling ready-to-eat croissants and any other product as may be agreed between the parties through a joint venture company, Britchip Foods Ltd.”
According to the agreement, Britannia Industries will be holding 60 percent of total share capital of the joint venture company whereas Chipita SA would be holding the rest.
