We are resolute, committed to partnership: Wadia, Danone

By Our Corporate Bureau | 21 Jun 2003

Mumbai: The Wadia group and the Danone group, joint promoters of Britannia Industries, say they are committed and resolute in their partnership in India.

They were responding to various articles in the media suggesting that Groupe Danone and the Wadia group have relationship issues with respect to their partnership in India. "These reports are baseless," they say in a joint statement.

"It always has been and always will be the focus and aim of both Groupe Danone and the Wadia group to continuously contribute and jointly strengthen the Britannia business and brand in India in order to create shareholder value. As promoter shareholders, we shall make every assistance available to the professional management at Britannia Industries to deliver enhanced value to the Indian consumer as always," reads the statement signed by Wadia group chairman Nusli Wadia and Groupe Danone chairman (Asia Pacific) Simon Israel.