Snapshots of Food Industry News
ITC Foods launches Indian cow milk enriched biscuits
ITC has launched a new variety of biscuits called Sunfeast NaatMaad Paal that have been enriched with native Indian cow milk and fortified with eight essential nutrients like iron, vitamins and calcium. The biscuits are priced at Rs.10 for a packet of 83gms and will be available at all retail stores, modern format top end general trade in Tamil Nadu. With the launch of these biscuits ITC feels that it has taken the brand to an altogether new level as mothers can ensure that their children get the right nutrition in their growing years.
Sanjiv Goenka Group acquires stake in Gujarat based Apricot Foods
Sanjiv Goenka Group’s FMCG vertical, Guiltfree Industries has acquired a 70% stake in a closely held Gujarat based snacks company Apricot Foods. The remaining 30% of stocks will be with the existing promoters. Apricot Foods is concentrated in Gujarat and has manufacturing facilities both in Gujarat and Hyderabad. The FMCG segment is seeing significant growth so Goenka could set up their own manufacturing unit to retain quality. Apricot Foods sells e-vita branded snacks and has annual revenue of Rs.200 crore. Goenka’s strategy is to cover all the three segments of the FMCG space. They already have the midmarket covered with their Too Yum brand. With the e-vita products priced at just Rs.5 they will foray into the mass market. Goenka could also acquire some organic stuff for the premium space.
Mumbai’s dairy brand Punjab Sind forays into Pune
Punjab Sind, the Mumbai-based dairy and frozen food manufacturer and supplier has forayed into Pune with the launch of an outlet in Baner. Pune is one of the fastest-growing cities and is an IT and start-up hub. Apart from the first outlet in Baner, Punjab Sind plan to set up 12 more outlets in Pune, in localities such as Aundh, Kothrud and Deccan by mid-2019. Established in 1969, the brand already has 40 outlets across western and southern India. Twenty-two of these are in Mumbai, eight in Goa, six in Daman and Silvassa and two each in Nashik and Hyderabad.
Punjab Sind delivers a host of products, including fresh dairy products, sweets, frozen desserts, flavoured milk, ice cream, frozen vegetables and kulfi, but their flagship product is their premium malai paneer. They provide quality, tasty and hygienically-packed dairy products that are manufactured at its ultra-modern and hygienic facility. They process the freshest of ingredients that are procured from reputed and reliable vendors that are screened after thorough research and analysis.
IFFCO and Sikkim Government sign MoU to explore organic value chain opportunities
Indian Farmers’ Fertiliser Cooperative (IFFCO) and the Sikkim government have signed a memorandum of understanding (MoU) as a joint venture to be called Sikkim IFFCO Organics Limited (Sikkim-IFFCO). The joint venture would explore business opportunities in organic value chain. The initial investment for the project will be approximately Rs.200 crore, which will be increased to Rs.500 crore in phases. IFFCO will hold a majority stake of 51 per cent equity and the Sikkim government has 49 per cent equity in Sikkim-IFFCO.
IFFCO would soon introduce a range of organic and non-chemical based products for crop nutrition and protection for farmers and home garden segment. These products will be based on seaweed, fresh waterweed and bio-actives using a bio-refinery approach to create multiple products with the use of the same biomass. Industrial-level mass production and packaging of this product range will be undertaken by Sikkim-IFFCO in Sikkim. The venture will facilitate the organic input requirements of the entire north-eastern region, which is slated to become a mega organic agricultural zone. To make these products available to the north-eastern farmers, IFFCO will also be opening at least two IFFCO e-Bazar centres in each of the seven sister states. IFFCO will also undertake to source organic produce like flowers and herbs from the region, and will make them available to various companies pan-India.
Mondelez Partners with Amazon to launch virtual Chocolate & Sweet Store
Mondelez India has partnered with Amazon India to set up India’s first virtual Chocolate & Sweet Store. E-commerce is the fastest growing business channel and Mondelez believes in being more visible in each of the key markets. This partnership offers an exciting opportunity to tap into the e-commerce market. Chocolate & Sweet Store is part of a novel experience through which the company will enhance the gifting experience. Consumers will be able to purchase not only the conventional gift packs but exclusive e-commerce packs according to relevant occasion, as part of Mondelez India’s ‘Joy Deliveries’ offering.
Amazon India is excited to partner with Mondelez India to launch their Chocolate & Sweet Store that will offer some of the world’s most iconic chocolate brands in unique, customized formats. The Chocolate & Sweet Store and its Joy Deliveries will offer features such as customization, bundled offerings, and options to choose from multiple gift packaging to suit important festival gifting like Raksha Bandhan, Diwali and year round occasions like Birthdays, Thank You, Congratulations, etc.
India to soon have a taste of TGI Fridays’ liquor and snacking brand
TGI Fridays, which operates as a full service restaurant American chain, is likely to bring a second bar based model brand to India. India is the first country that Fridays will be bringing their new bar model as a response to the evolving urban Indian lifestyle. The brand will focus on liquor and snacking instead of the traditional restaurant model. The new outlets will be called Fridays’ American Bars.
Presently Fridays operates 12 TGIF stores in India in the fine-dining space. Since the company is now experimenting with the creation of the new brand, therefore, they intend to set up smaller formats. This will give Fridays a chance to penetrate the market easily, with a low capex and help to further develop its strategy. The focus of the company will revolve around pushing the brand towards a bar focused and beverage based environment. This is likely to give consumers as well as inventors better performance.