Bennet and Coleman Co Ltd. (BCCL), the publishers of The Times of India and Economic Times, has picked up a stake in Himalya International (HIL). The stake has been picked in form of share warrants in HIL, a FMCG company in frozen foods and nutrition, reports Times of India. The company has managed a 34% growth in EBITDA at Rs 20.19 crore for the fiscal 2008-09.
HIL has launched its product line in India under the brand name Himalya Fresh and has tied up with retailers like Reliance Fresh, Bharti Wal-mart, More, AV Birla Group, Metro Cash & Carry. The products are available in cities like Mumbai, Bangalore, Ahmedabad & Hyderabad. HIL plans to set up more production units in the country with an investment of Rs 130 crore into a food processing facility in Gujarat.