India’s Bikaji Foods International (BFIL) has initiated a snacks joint venture in Nepal with the prominent local conglomerate, Chaudhary Group (CG).
“The joint venture marks Bikaji’s commitment to strengthening its brand presence in the Nepalese food market, representing a significant milestone in its international growth strategy,” stated the company in a stock exchange filing today (24 July).
Furthermore, BFIL emphasized that the partnership will concentrate on the manufacturing, trading, and marketing of its diverse snacks and sweets products in Nepal, including bhujia, namkeen, and papads.
This joint venture will be equally owned by BFIL and CG Foods, merging Bikaji’s rich legacy in ethnic snacks with Chaudhary Group’s robust market expertise, thereby enhancing Nepal’s overall FMCG landscape.
To ensure customers experience premium and authentic ethnic snacks and sweets swiftly, both parties will establish a manufacturing facility in Nepal.
Currently, Nepal’s FMCG sector is valued at over a billion dollars and is witnessing rapid growth, with an annual increase of around 20%, as cited by the Investment Board of Nepal.
Deepak Agarwal, the managing director of BFIL, commented: “This joint venture represents a pivotal milestone in Bikaji’s global growth journey, reinforcing our strong belief in Nepal 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 Nepalese consumers,” he added.
Agarwal further stated: “Beyond commerce, this partnership aims to create enduring value—empowering communities, fortifying supply chains, and enhancing Nepal’s food ecosystem.”
Varun Chaudhary, director of CG Foods, remarked: “This collaboration reaffirms our commitment to delivering world-class food innovation to Nepal while simultaneously expanding and strengthening our local capabilities.”
“Our joint venture with Bikaji is not merely about product excellence; it’s about generating long-term value for Nepal— from creating employment opportunities to reinforcing supply chains. This partnership has the potential to accelerate Nepal’s food sector and set new benchmarks in quality and accessibility,” he concluded.
BFIL has also been active in securing deals closer to home. The company recently acquired a majority stake in Hazelnut Factory Food Products, a local café and artisanal sweets business.
Additionally, it acquired a 55% share of Indian peer Ariba Foods, known for its mixed vegetables as well as vegetarian and non-vegetarian burgers, paratha, and roti breads. In 2023, BFIL also purchased a 49% stake in Indian snacks maker and start-up Bhujialalji.
