Bikaji Foods forms joint venture with Nepal's Chaudhary Group
Bikaji Foods International
said Thursday that it has inked a strategic
joint venture
with
Chaudhary Group
(
CG Foods Nepal
), paving the way for its
international expansion
.
The 50:50 joint venture between the two entities will involve manufacturing, trading and marketing Bikaji Foods' portfolio. Both companies will jointly invest capital in one or more tranches to build a state-of-the-art facility in Nepal,
Bikaji Foods
said in a statement.
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CG Group makes Wai Wai noodles and has interests in hospitality, infrastructure, education and financial services.
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Deepak Agarwal, managing director of Bikaji Foods, said in a statement: 'This partnership seeks to create value, empower communities, fortify supply chains and enhance Nepal's food ecosystem.'
Varun Chaudhary, director of CG Foods Nepal added that the joint venture would 'create long-term value for Nepal from generating employment to strengthening supply chains.'
Live Events
In March this year, Haldiram Snacks Food too had onboarded new investors - Singapore's Temasek, Alpha Wave Global and International Holding Company (IHC) to further its global footprint.
India's
snack foods market
is seeing double-digit surge in sales, with players such as Bikaji, Haldiram, ITC, Parle, Balaji Wafers, Crax and Yellow Diamond competing for a share in India's Rs 47,000-crore snacks market.
According to a report by research company IMARC Group, the
Indian snacks market
could expand to Rs 95,521.8 crore by 2032.
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