Britannia eyes bakery market with Daily Bread
Packaged food maker Britannia Industries Ltd is seeking to increase its presence in the Indian bakery market following the buyout of Bangalore-based bakery food retailer Daily Bread.business Updated: May 19, 2009 20:31 IST
Packaged food maker Britannia Industries Ltd is seeking to increase its presence in the Indian bakery market following the buyout of Bangalore-based bakery food retailer Daily Bread.
"The Daily Bread business provides Britannia with the opportunity to engage with a new shape of business opportunity in retail which is different in that it requires a different profile of outlets and resources to man it," Britannia Industries Ltd Vice-President (Sales, Marketing and Innovation) Neeraj Chandra said.
"Equally, however, the business is aligned to bakery which is Britannia's core competency," he said. Last week, Britannia, which already controlled 75 per cent stake in Daily Bread, had announced the acquisition of the remaining shares in the company for an undisclosed amount.
Chandra said the focus would be on intensifying the bakery business of the Daily Bread brand.
First Published: May 19, 2009 20:29 IST