Britannia buys out partner in New Zealand dairy unit

April 28th, 2009 - 12:52 pm ICT by IANS  

Mumbai, April 28 (IANS) Biscuit major Britannia has bought out its partner Fonterra’s 49 percent stake in their joint venture in New Zealand, Britannia New Zealand Foods, the company said in a regulatory statement Tuesday.
Britannia had set up a dairy business with Fonterra Cooperative Group, one of New Zealand’s largest dairy companies, in 2002.

With the acquisition, the Indian firm gains complete control of Britannia New Zealand Foods.

The size of the deal was, however, not disclosed.

Related Stories

Tags: , , , , , , , , , , , ,

Posted in Business |