September 15/New Delhi/Economic Times -- McCormick & Co and Delhi-based Kohinoor Foods have completed the formation of a joint venture to market basmati rice in the country, the partners said. The venture, announced three months back, will be called Kohinoor Specialty Foods India.

Satish Rao, who has worked with McCormick for the past 16 years, will be the managing director of the firm with 275 employees and a production facility at Haryana. McCormick, which has invested $113 million in the venture, holds 85% stake in it.

 

From the September 16, 2011, Prepared Foods' Daily News.