Dan Cake forays into India through a 66:34 JV

Dan Cake, Portugal, one of the leading names in the world of bakery and confectionery industry and one of the largest butter cookies producers worldwide is set to enter the Indian market. For this, the company has formed a 66:34 joint venture with Pune-based Phadnis Group.  

An agreement to this effect has been signed between Dan Cake, Portugal and Phadnis Industries Limited, a Phadnis Group Company. As per the agreement, a joint venture company under the name 'Danesita Phadnis Food Industries Limited' will be formed between the two parties.

"We would be making our 'Danesita' brand stronger in the Indian market. 'Danesita' is already popular and established in many European countries for its range of products including cookies, butter cookies, biscuits, swiss rolls, and family cakes to name a few," said Kanitlal Jamnadas, chairman of the Board, Dan Cake, Portugal.

 

Jamnadas added that as the Phadnis Group would be helping Dan Cake in setting up the manufacturing infrastructure and begin the India operations. The estimated cost of this project is Rs 100 crore.