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Britannia & Greece’s Chipita ink MoU to explore business opportunities
Thursday, 23 February, 2017, 08 : 00 AM [IST]
Our Bureau, Bengaluru
Britannia has signed a non-binding Memorandum of Understanding (MoU) with Chipita, a Greek company, to explore certain business opportunities.
In a communication to the Bombay Stock Exchange (BSE), Britannia stated that it was in an advance stage of discussion with Chipita to finalise definitive agreements inter alia including a joint venture agreement.
The company will inform the bourse once the partnership is established and agreements are signed.
According to a media report, “Chipita is present internationally in four major product categories - croissants and similar dough products, savoury snacks (baked rolls), cakes and confectionery.”
“Chipita has been operating outside Greece since 1995, with manufacturing plants in Bulgaria, Portugal, Egypt, Poland, Romania, Russia, Saudi Arabia, and more recently, India and Turkey,” it added.
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