 "Britannia to strengthen bakery division with new launches")
Looking to transform into a total food company, Britannia Industries is planning to bring in new products, especially in the bakery segment, to fill gaps in its portfolio.
"We are looking at diversification. First diversification is going to be within the bakery area where in certain segments, we are missing. You would see in the next couple of months very hectic activity from our side," Britannia Industries Managing Director Varun Berry said.
He further said: "We are missing in few segments as cereal bar, croissant and we are going to evaluate all of this and certainly develop a strategy to move in those as well."
For that, the company is planning a series of launches and the earliest would be nine to ten months away.
"We would not take all of them together. It would be series of launches that we are looking at over the next one year or so," Berry said.
He further added: "Once the decision is taken then we would have to get the capex going ... The earliest launch which we are looking at would be in next 9 to 10 months."
On dairy segment, Berry said that it would take a decision in this regard by the end of this year.
"Dairy, I think we have to take the decision but I think we are very close to a decision...," he said.
Berry further said: "We would have a pan India presence as far as dairy is concerned but we would have to choose states for setting up operations. Probably, it would be Maharashtra, if we go forward with the investments".
