ACI enters bakery business with London-based biscuits company

Business Report :
Bangladeshi conglomerate ACI Limited has approved an arrangement to form a joint-venture company with London-based United Biscuits Topco Limited to manufacture biscuits and supplies to global customers.

The proposed name of the company will be Pladis ACI Bangladesh Limited but it will be traded under the “Pladis” name.

ACI will invest Tk50 crore in the venture within two years for 49% shareholding.

For this, the company has to get approval from the related regulator and other conditions properly.

ACI shares closed at Tk260.20 on the Dhaka Stock Exchange on Tuesday.

The company is primarily involved in manufacturing pharmaceuticals, consumer brands, and animal health products and marketing them along with fertilizers, seeds, and other agricultural items.

ACI retail chain is the largest retail chain in Bangladesh operating through its 144 SHWAPNO outlets including 34 newly opened express outlets across the country by touching the lives of over 45,000 households each day.