Britannia Industries is in discussions to acquire a majority stake in Guwahati-based Kishlay Foods, a company known for producing snacks, biscuits, chips, noodles, and tea. The deal, valued between ₹600-700 crore, is currently in the due diligence phase, according to sources familiar with the matter.
Key Points:
- Kishlay Foods, founded in 2001 by Sandeep and Krishna Bajaj, is one of the largest snack manufacturers in Northeast India, with brands like Non-Stop, Kishlay, and Mamooz.
- The company reported revenue of around ₹350 crore for the year ending in March 2023.
- If finalized, this deal will give Britannia a strong presence in the Northeast and expand its portfolio to include noodles and tea, categories where it doesn’t currently operate.
- Regional brands, especially in snacks, have seen a sharp rise in demand post-COVID, making them attractive acquisition targets for larger companies.
- Britannia, already expanding in both India and overseas, acquired a stake in Kenya’s Kenafric Biscuits in 2022 to enter the African market.
- The Indian snacks market is projected to grow significantly, from ₹42,694.9 crore in 2023 to ₹95,521.8 crore by 2032, according to IMARC Group.
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