India signs cooperation agreement with World Food Programme for 2023-27
To manufacture and sell biscuits in Kenya and African markets
Britannia Industries’ wholly-owned arm Britannia and Associates (Dubai) Pvt Co Ltd (BADCO) has acquired control of Kenafric Biscuits Ltd (KBL), a private limited liability firm incorporated in Nairobi, Kenya, by subscribing to 51 percent of the equity share capital of the company, as stated by Britannia Industries in a regulatory filing.
Subsequently, KBL has become a step-down subsidiary of Britannia Industries. There is no turnover of KBL to be reported since it has not commenced operations.
Britannia Industries has further said that BADCO has acquired 100 percent of the equity share capital of Catalyst Britannia Brands Ltd (CBBL) for Kenyan Shillings (KES) 2.14 crore (Rs 1.42 crore), thereby making it a 100 percent subsidiary.