Post tie-up with Fontera Co-operative, Britannia Industries Limited is evaluating the possibility of launching new products. The company is also evaluating new locations for setting up fresh milk business. This initiative comes in the wake of the company’s plans to trigger accelerated growth from the dairy business and reduce contribution from the biscuit category to 60 per cent of the company’s business.
The company is also be looking at roping in new parties for contract manufacturing of dairy products along with the existing Modern Dairy and Thacker Dairy from whom the company is outsourcing dairy products.
The company had entered into a joint venture with New Zealand Dairy Board where Britannia and Fontera hold 49 per cent stake each while two per cent stake will be held by a business associate. For the venture in India, Fontera will render the infrastructural back up and Britannia will lend the marketing backbone to make the business a profitable proposition in the coming months.