Kancor (Mumbai, India) and Mane (Le Bar-sur-Loup, France) have formed a joint venture partnership in India for the supply of food and beverage ingredients globally. The partnership will draw on the firms' combined technology, standards and market access.
The terms of the agreement were not disclosed.
“I am pleased to be taking a majority stake in Kancor, a long-term supplier," said Jean Mane, president and CEO of Mane. "This is in line with our strategy of controlling the sourcing of our natural raw materials.”
“This new page of history for Kancor is a significant step towards the strengthening of our customers products and building a unique high quality ingredients platform to cater to the global food and beverage industry,” said Sanjaya Mariwala, managing director of Kancor Ingredients Ltd.