Future Consumer to form 50:50 JV with UAE-based Bin Ablan Food
Future Consumer today said it will form a 50:50 joint venture with Bin Ablan Food Industry, a UAE-based bakery products maker.
The board of the company today approved joint venture with Bin Ablan Food Industry for manufacturing and sell its range of premium bakery products as cupcakes, pound cakes, muffins etc, the company said in a BSE filing.
The board also approved an equal joint venture with EK Sons Agro Food, manufacture of wheat and other speciality foods in India and abroad under their flagship brand Dilkush, it added.
The Kishore Biyani-led group would sell wheat products, maida, Sooji, whole wheat atta and bran etc through the JV.
Future Consumer, earlier know as Future Consumer Enterprise, is a sourcing-to-supermarket food company of the Future Group.
Its stock closed at Rs 41.25 apiece, up 6.87 per cent on the BSE.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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