Business Daily from THE HINDU group of publications
Friday, Aug 18, 2006
Business Daily from THE HINDU group of publications Friday, Aug 18, 2006 |
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Corporate
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Mergers & Acquisitions Britannia plans to raise stake in Daily Breads to 50 pc Our Bureau
New Delhi , Aug. 17 Britannia Industries Ltd said that it was planning to increase its stake in the recently acquired Bangalore-based Daily Breads Pvt Ltd to 50 per cent. "We are looking at increasing stake in Daily Breads Pvt Ltd from the current strategic stake to 50 per cent in the time to come," said Ms Vinita Bali, Managing Director of Britannia Industries Ltd, on the sidelines of a marketing summit organised by the Confederation of Indian Industry.
Innovative changes
Ms Bali also said that as part of the company's total investment plans of Rs 200 crore in the coming three years on expansions and acquisitions, the six power brands — Tiger, Marie, Good-Day, Treat, Fifty-Fifty and Milk Bikis — which have market shares of over Rs 100 crore, will also go through various innovative changes in terms of flavour additions, size variations and packaging. The Marie Gold Doubles, the triple layered, variable flavoured biscuit that was recently launched in the southern market will soon be making it way to the North. Britannia is also all set to launch `Chota Tiger', the round-shaped, smaller-sized variant of the popular Tiger biscuits, and also introduce the same brand in `Tikki packs' with four biscuit in each sachet for Re 1 per pack, targeted at rural India.
No price rise
On acquisitions, Ms Bali said, "We are also looking at geographical and branded differential acquisitions in the domestic and international market." She refused to divulge further details. Ms Bali also expressed concern over the increasing pressure on margins in the FMCG sector due to a hike in commodity prices. "Commodity prices have seen an unprecedented increase over the last six months and if we consider the biscuit category they are up as much as 23 to 24 per cent. This has put margins under pressure," she said. However, the company is not considering any price increases as of now.
More Stories on : Mergers & Acquisitions | Food & Dairy Products
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