Bikaji Foods ties up with global bakery expert Khaleel, transfers 30% stake in baking subsidiary
Through BBPL, the two partners aim to introduce international-standard bakery practices and products to the Indian market
Bikaji Foods International Ltd has entered into a strategic partnership with Thayekunni Khaleel, a renowned bakery industry expert, through its subsidiary Bikaji Bakes Private Ltd. The deal sees Khaleel gaining a 30 per cent equity stake in BBPL, while Bikaji Foods retains a 70 per cent majority stake, ensuring BBPL remains a subsidiary of Bikaji Foods.
The stock price of Bikaji Foods closed at ₹609.20, marking a 0.47 per cent decrease and resulting in a market capitalization of roughly ₹15,274 crore. Despite underperforming by 23 per cent over the past year, the partnership aims to leverage Khaleel's technical bakery expertise, global industry experience, and Bikaji Foods' extensive distribution network, retail footprint, and consumer insights in India.
The joint venture intends to bring international-standard bakery practices and products to the Indian market. Bikaji Foods' Chairman and Managing Director, Deepak Agarwal, highlighted the significant growth potential in the Indian bakery category and noted that the partnership will allow BBPL to concentrate on focused growth independently while the parent company maintains its core ethnic snacks and sweets business.
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