In September 2022, Varun Berry was appointed as Executive Vice-Chairman and Managing Director of Britannia Industries Limited and Ranjeet Kohli was also appointed as Executive Director and CEO. As of December 2022, Britannia Industries Limited had a market capitalization of Rs. 1,08,992.90 crore. In December 2022, Britannia Industries entered into a joint venture agreement with Bel SA of France and Britannia Dairy Private Limited (BDPL) to develop, manufacture and sell cheese products in India and other markets. Under the joint venture, Bel SA acquired a 49% stake in BDPL, a subsidiary of Britannia Industries, for 262 crore and infused an additional 215 crore in the joint venture. In August 2022, the company expanded its product portfolio by entering the Western Snacking market with the launch of its new product, Treat Croissant. It also released a TV commercial featuring choreographer, actor and director, Prabhu Deva. Businesses The company's principal activity is the manufacture and sale of biscuits, bread, rusk, cakes and dairy products. Biscuits The company's factories have an annual capacity of 433,000 tonnes. The brand names of Britannia's biscuits include VitaMarieGold, Tiger, Nutrichoice, Good Day, 50 50, Treat, Pure Magic, Milk Bikis, Bourbon, Nice Time and Little Hearts among others. In 2006, Tiger, the mass market brand, realised $150.75 million in sales, including exports to the U.S. and Australia. This amounts to 20% of Britannia's revenues for that year. Britannia Industries has roped in Bollywood actor Salman Khan to endorse its range of 'Tiger' brand of biscuits. According to Britannia, Khan will play a role in further enhancing Tiger's core values through his association in presenting the brand, its products and promotional activities. Dairy products Dairy products contribute close to 10% to Britannia's revenue. The company not only markets dairy products to the public but also trades dairy commodities business-to-business. Its dairy portfolio grew to 47% in 2000-01 and by 30% in 2001-02. Its main competitors are Nestlé India, the National Dairy Development Board (NDDB), and Amul (GCMMF). Britannia holds an equity stake in Dynamix Dairy and outsources the bulk of its dairy products from its associate. On 27 October 2001, Britannia announced a joint venture with Fonterra Co-operative Group of New Zealand, an integrated dairy company which handles all aspects of the value chain from procurement of milk to making value-added products such as cheese and buttermilk. Britannia intends to source most of the products from New Zealand, which