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An Italian frozen dessert company will soon enter into an agreement to acquire a 40% stake in an ice cream factory in West Bengal.
"We are in technical and financial talks with two Italian frozen dessert companies, a joint venture, and we will reach an agreement with one of them in a month." The agreement has not yet been signed, but we will divest 40% of the company's capital, under the brand name Milkberry, "Rainbow Dairy Food Product's managing partner Siddhartha Sankar Ghosh told PTI.
The agreement is advised by the Italian consulting company & # 39; Bizdev & # 39; and a protocol of agreement was signed with it.
Confirming the developments, Jean-Claude Morel, founding partner and manager of Bizdev, Italy, said "Italian companies are very impressed and excited by the recent positive developments in West Bengal.
" J & # I have personally attended the meetings of the Minister of Bengal in Milan as members of the Italian business team and our interest in this part of India has increased. We are very excited about establishing an badociation with Milkberry, "he said.
Rainbow Dairy has been a company in the ice cream manufacturing and distribution business for five years, growing double-digit and a factory close to Kolkata, Ghosh
"We are now aiming for a 100% high growth rate with new flavors with the Italian badociation. The new products will be co-branded, "said Ghosh.
" Milkberry "currently has a capacity of 800 liters / hour and is present in the states of East and Northeast, with more than 40 variants and flavors.
(Business Standard staff does not edit this story and is generated automatically from a syndicated thread.)
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