Both parties will infuse capital in one or more tranches to build a state-of-the-art facility in Nepal
Bikaji Foods International, an ethnic snacks brand, has approved the execution of the Joint Venture (JV) cum shareholders’ agreement to be entered with Nepal’s conglomerate, Chaudhary Group (CG). Through this, the company is aiming to strengthen its brand presence in the Nepalese food market.
As per the terms of the agreement, the joint venture company will be equally owned by BFIL and CG Foods (50:50). Both parties will infuse capital in one or more tranches to build a state-of-the-art facility in Nepal.
“This joint venture marks a pivotal milestone in Bikaji’s global growth journey and promotes our strong conviction in Nepal’s potential as a key strategic market. With CG Group’s strong market leadership and deep local insights, we are confident in our ability to deliver high-quality, affordable products that resonate with the consumers in Nepal,” stated Deepak Agarwal, Managing Director of Bikaji Foods International.
The partnership will focus on manufacturing, trading and marketing Bikaji’s portfolio categories in Nepal, combining the expertise of both companies to grow the market in Nepal. This joint venture unites Bikaji’s legacy in ethnic snacks with Chaudhary Group’s market expertise to elevate Nepal’s overall fast-moving consumer goods (FMCG) landscape, the company said in a statement.
“Our joint venture with Bikaji is not just about product excellence, it is about creating long-term value for Nepal from generating employment to strengthening supply chains, this partnership has the potential to accelerate Nepal’s food sector and set new benchmarks in quality and accessibility,” highlighted Varun Chaudhary, Director, CG Foods Nepal.
The company highlighted strategic partnership comes at a pivotal moment, with Nepal’s FMCG sector witnessing robust double-digit growth of around 20 per cent annually, according to the Investment Board Nepal
