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VMPL
Kathmandu [Nepal], July 24: In a major step toward elevating Nepal's snacking experience, Chaudhary Group (CG), Nepal's first multinational conglomerate, has entered into a strategic Joint Venture cum Shareholders Agreement with Bikaji Foods International Limited (BFIL), one of India's largest and most respected ethnic snack brands. This partnership marks a powerful union of two market leaders and aims to bring premium quality snacks, bhujia, namkeen, papad, and packaged sweets to the Nepalese market through a 50:50 joint venture. The collaboration includes a joint infusion of capital to establish a state-of-the-art manufacturing facility in Nepal, ensuring authentic products with minimal turnaround time and deeper local market integration. "This collaboration reaffirms our commitment to bringing world-class food innovation to Nepal while expanding and strengthening our local capabilities," said Varun Chaudhary, Managing Director, CG Corp Global. "Our joint venture with Bikaji is not just about product excellence -- it's 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. We envision making the rich, diverse flavours of India a seamless part of daily snacking 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," said Deepak Agarwal, Managing Director, Bikaji Foods International. "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. Beyond commerce, this partnership seeks to create enduring value -- empowering communities, fortifying supply chains, and enhancing Nepal's food ecosystem." Capturing the Momentum of Nepal's FMCG Growth The partnership arrives as Nepal's fast-moving consumer goods (FMCG) sector sees exponential growth. With a population of nearly 30 million and rising urban consumer demand, Nepal's FMCG sector is estimated to be growing at 20% annually, valued at over $1 billion, according to the Investment Board Nepal. By combining Bikaji's trusted brand and product excellence with CG's local expertise, nationwide distribution, and consumer insight, the new venture is poised to make a lasting impact. The Joint Venture Will: -Establish state-of-the-art manufacturing units in Nepal led by Chaudhary Group to produce and package authentic Bikaji snacks; -Create thousands of direct and indirect employment opportunities; -Strengthen local entrepreneurship and supply chains; -Introduce hygienic, affordable, and culturally aligned products to Nepalese consumers; -Position Nepal as a strong player in regional food exports. Shared Vision, Grounded in Legacy and Progress This venture goes beyond business. It reflects a shared commitment by both companies to foster innovation, empower communities, and contribute to Nepal's economic and industrial growth in a meaningful way. (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
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