Danone, Wadia Group terminate existing joint ventures in India

French food giant Groupe Danone and the Wadia Group have put a full stop to their 13-year-old relationship in Britannia Industries (BIL). The duo have terminated their existing joint ventures in India and resolved intellectual property dispute of Tiger brand of biscuits.

The two firms mentioned in a joined statement that Danone has sold its 50% interest in ABI Holdings to Wadia Group. ABI Holdings holds an effective 50.96% interest in Britannia Industries.

While Wadia Group is contented with this acquisition, Danone is keener to contribute to the development of the healthy food market by implementing Danone brands in India in near future. The French firm is concentrating on areas, including dairy and probiotic products, in India.