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Britannia plans expansion by 2020

Britannia plans expansion by 2020

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MUMBAI: Britannia Industries is looking to expand its business in neighbouring countries as well as Africa and Middle East as per a report by The Hindu. It intends to start operations at these locations by 2020.

Britannia is looking to invest about Rs 55 crore in the Himalayan nation to generate over Rs 70 crore revenue and scale that to about Rs 150 crore in the next four years, Britannia MD Varun Berry said in an earnings conference call.

The firm currently has a 17 per cent market share in Nepal. Britannia exports products such as Good Day to the neighbouring country to meet growing demand.

Berry added that the greenfield unit at Ranjangaon in Maharashtra will be ready by November. “Ranjangaon is going to be a food park for us,” he said, adding that the 150-acre facility would be an integrated space for biscuit, cake, rusk, croissant, dairy and other products.

Meanwhile, an Edelweiss Securities research report said that the growth of the company has accelerated by more than 250 basis points and Britannia is gearing to become a total foods company.

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