Britannia Industries has set up a new joint venture in India with Greek manufacturer Chipita.
The JV, to be called Britchip Foods Ltd, will initially produce and sell ready-to-eat croissants in the country, with options to expand the offer. Britannia will hold a 60% share of the JV, which will receive an investment of Rs.1bn in the first phase.
The board will have a minimum of five and maximum of ten members, and Britannia has the right of first refusal in case Chipita plans to sell its stake after the expiry of a 10-year lock-in period.
Cécile Béliot has assumed the role of Bel Group chief executive officer, following the decision to separate the roles of chairman and CEO. The separation of the functions will enable Bel Group to develop in three areas of healthy snacking. Meanwhile, the company’s former CEO, Antoine Fiévet, has had his mandate renewed as chairman of the board.
US Food and Drug Administration (FDA) Commissioner Dr. Robert Califf was grilled by lawmakers during a House Appropriations subcommittee hearing, where he was slammed over the agency’s handling of the escalating infant formula shortage.
Sweegen is ramping up its efforts to reduce sugar across F&B applications while simultaneously tapping into the benefits of using antioxidants and bitter blocking technology. Speaking to FoodIngredientsFirst, Casey McCormick, vice president of global innovation at Sweegen, says product developers can find a broad range of solutions in Sweegen’s nature-based sweetener systems as brands elevate better-for-you foods.