Oct 29, 2018
West Bengal’s home grown ice-cream maker is going to seal a deal with Italian frozen dessert company to get 40 per cent stake in it.
According to Rainbow Dairy Food Product Managing Partner Siddhartha Sankar Ghosh, the deal is in advanced talks with two Italian frozen dessert companies for technical and financial joint venture which will be sealed with one of them in a month’s time, and the company will divest 40 per cent stake. The product brand name of the joint venture is Milkberry.
Rainbow Dairy is in the ice-cream making and distributing business for the past five years with a double digit growth and a manufacturing facility close to Kolkata and is aiming at high growth rate of 100 per cent with new flavours with Italian tie-up.
‘Milkberry’ has a current capacity of 800 litres/hour and presence in the eastern and north eastern states, with more than 40 variants and flavours.
The deal is advised by an Italian consulting company ‘Bizdev’ and an MoU was signed with it.
Jean-Claude Morel, founder-managing partner, Bizdev, Italy, said “Italian companies are very impressed and excited over the positive developments taking place in West Bengal recently and I personally attended Bengal chief minister’s business meetings in Milan as part of the Italian business team and our interest in this part of India grew manifold.