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Heritage Foods joins hands with European brand, also appoints SBICAP

Heritage Foods Ltd is on the trajectory of growth as the company has appointed SBI Capital Markets Ltd (SBICAP) as an investment banking service provider and financial adviser for setting up of a joint venture with a leading European company.

The joint venture with the European brand is aimed to collaborate on dairy products in India and overseas market. This will add to the diversity and better the growth prospects for Heritage Foods at an international level.

The Hyderabad-based dairy major, promoted by the family members of Andhra Pradesh Chief Minister N Chandrababu Naidu, is embarking on a new growth phase and seeking to expand its operations.

As a part of this initiative, it is also exploring new avenues and considering setting up of a joint venture with a European major. The spokesperson for Heritage Foods said that the new joint venture with a top-notch European company will help Heritage Foods explore newer opportunities and avenues. The company’s motto is to constantly endeavor for growth and diversification and this is what it is aiming to achieve through this initiative.

The company in a statement has informed BSE that the board of directors of the company at its meeting held on July 22 also approved the appointment of Savita Jyothi as scrutinizer for conducting e-voting for the annual general meeting. It said, “We, through a unanimous decision, have decided to appoint Savita Jyothi as the scrutinizer who will be responsible for conducting e-voting for the annual general meeting.”