Shakti Bhog Foods, a leading player in packaged wheat flour, is in talks with two firms in Australia and Dubai for joint ventures as it aims to export flour from these two destinations.
The Delhi-based company is also looking at acquiring a company or two to expand its food business, besides the JV plans.
"Partners have been finalised. The talks are in progress regarding the proportion of stakes in the joint venture firms," Shakti Bhog Foods Managing Director K K Kumar told reporters here.
He said the two proposed joint ventures, first one to come up in Australia and the second in Dubai, will produce flour with the objective of exporting to other countries.
Asked when the JV would be operational, he said it might take one-and-a-half years.
Kumar said the company would receive royalty from the 'Shakti Bhog' brand, which was also popular outside India.
On the company's acquisition plans, he said, "We may soon acquire one or two to expand our food business."
He, however, declined to share details.
Commenting on the impact of export ban on wheat and wheat products, he said it had affected the overall turnover of the company, which was exporting to 40 countries.
However, he welcomed the ban saying domestic prices were under control because of the restriction.
"Atta prices would have reached Rs 20 a kg had there been no export ban," he said.
