Bikaji Foods International (Bikaji) has approved the execution of the Joint Venture cum Shareholders' Agreement to be entered with Nepal's leading conglomerate, Chaudhary Group (CG). The joint venture marks Bikaji's commitment to strengthening its brand presence in the Nepalese food market and a significant milestone in its international growth strategy.
The partnership will focus on manufacturing, trading and marketing Bikaji's portfolio categories (bhujia, namkeen, papad, packaged sweets and snacks) in Nepal, combining the expertise of both companies to grow the market in Nepal. As per the terms of Agreement, the joint venture company will be equally owned by BFIL and CG Foods (50:50); both parties will infuse capital in one or more tranches to build a state-of-the-art facility in Nepal to ensure that the consumers get to experience premium and authentic ethnic snacks and sweets with minimal turnaround time.