"This is inform you that the company has signed a non-binding Memorandum of Understanding (MOU) with Chipita, a Greek company for exploring certain business opportunities. The company is in advance stage of discussion with Chipita to finalise definitive agreements inter-alia include joint venture (JV) agreement," Britannia Industries said in a BSE filing.
Chipita is present internationally in 4 major product categories - croissants and similar dough products, savoury snacks (bake rolls), cakes and confectionery.
Shares of Britannia were trading 0.92 per cent down at Rs 3,223.50 apiece on BSE.
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