One of the largest private sector dairy enterprises in Southern India, Heritage Foods, has joined forces with French dairy firm Novandie to set up a 50:50 joint venture, for a new dairy plant in France.
Novandie, a subsidiary of French Food company Andros, and Heritage Foods will manufacture flavored yogurts and desserts, according to reports in the Indian press.
The Chief Minister of Indian state Andhra Pradesh, Nara Chandrababu Naidu founded the Indian dairy company in the early 1990s with three-business divisions; Dairy, Retail and Agribusiness, under its flagship company Heritage Foods Limited (HFL).
In a recent announcement, the minister said the Joint Venture has come about following lengthy discussions with the French firm and a plant will be set up with a capacity of 20 tons per day. It is expected to be operational by next year.
“We are excited about our joint venture with Novandie, a leading yogurt player in France. This is one of the major steps we have taken on the path to achieving Rs 6,000 crore revenues by 2022,” Nara Brahmani, Executive Director, Heritage Foods, was quoted as saying.
Currently, Heritage’s milk products have market presence in Telangana, Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and Maharashtra.
Source: Food Ingredients First
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