Britannia Industries has decided in principle to acquire 49 per cent stake of Snacko Bisc (P) Limited along with the trademark, ‘Nutrine’ and other trade marks along with the copyrights and designs. The transaction is expected to be completed by the end of 2001. The acquisition price is expected to be in the range of Rs 8-10 crore.
Britannia Industries has also decided to setup a joint venture with the New Zealand Diary Board. Britannia and New Zealand Diary Board will hold 49 per cent each while business associates will hold the balance.
Britannia has acquired Snacko Biscuits to get a major toehold in the southern market. Since Britannia does not have a major presence in the South, Snacko’s distribution network will be utilised to sell Britannia’s products.
During the year 2000-2001, the company had acquired the ‘Kwality’ trade mark and other trademarks owned by Kwality Biscuits along with copy rights and designs in labels and packaging materials for Rs 30 crore. The transaction is expected to be completed in 2001-2002.