Snapshots of Food Industry News
Amalgam Frozen Foods to roll out frozen food stores
Amalgam Frozen Foods, which is a part of the Amalgam group, is all set to open frozen food stores across India. The seafood exporter believes that this will prevent deterioration in quality of food products due to temperature fluctuations. This fluctuation in temperature is caused by breaks in cold chain during delivery from factory to the consumer. The food products will come directly from the factories to the stores in perfect temperature conditions of -20 degree Celsius. The frozen food stores will stock Amalgam’s Buffet brand as well as other brands and will offer a range of ice-creams, parathas, seafood, meats and vegetables.
Starting with an investment of Rs.25 crore the first frozen food store is to come up in Kochi, the next phase will see them opening stores in other cities in Kerala and South India. By the end of three years there will be Amalgam frozen food stores in other cities across India. The company also has other plans on the anvil and these include opening of e-commerce retail and home delivery. Amalgam’s Buffet products meet the EU and US FDA standards and will be manufactured, frozen, stored, transported and delivered to customers under perfect temperatures which will ensure better quality.
Gadre Marine Export aim to double revenue
Gadre Marine Export aims to double their revenue from the previous Rs.550 crore. Gadre Marine Export began operations in India in 2008 and has emerged as the largest producer and exporter of packaged seafood in the country while the domestic market contributes about 7 to 8 percent of the total turnover presently. The company is based in Maharashtra and their products are available in more than 500 outlets across 20 Indian cities. Presently Gadre reports a 50 percent yearly growth in Indian retail sales. In the previous fiscal they had a sale of 250 tonnes which they aim to double this fiscal.
The company exported 34, 000 tonnes of fish last fiscal and produced 14, 000 tonnes of value added products as seafood. The company exports products to countries in Europe, US, South East Asia including the Pacific countries. Its popular products include Crabsticks, Masala prawn and mackerel, Lobster Bytes. Amritsari crab slaw, Fish fingers, Premium Pomfret to name a few. Crab products are very popular in India and account for 40 percent in sale. Gadre Marine is now planning to spread out to Telangana and East India as the demand for good quality seafood is growing. Market researchers say that the seafood market is likely to grow at the rate of 5 percent between 2106 – 2020.
Wow! Momo a Kolkata-based start-up to open 50 outlets
Wow! Momo the Kolkata based start-up has already opened five outlets in Kolkata’s metro stations to provide daily commuters a taste of momos. The five Wow! Momo Kiosks have come up in Kalighat, Mahanayak Uttam Kumar (Tollygunge), Netaji (Kudghat), Masterda Surya Sen (Bansdroni) and Kavi Nazrul (Garia). This is a stepping stone to the company’s plans to have 50 outlets in Kolkata in the next few years and 100 across other cities of India. Sagar Daryani, Co-Founder, Wow! Momo said that after they conducted a survey they realised the opportunity in providing momos to commuters. They approached the Metro authorities and soon they had their first kiosks set-up. Wow! Momo is now working on opening another seven kiosks in Kolkata metro to take the count to 12 outlets. The kiosks are strategically stationed opposite the ticket counters, except in Tollygunge where it is outside the station.
Cocoashala partner with Capco, UK to set up chocolate school
Cocoashala, a part of Cocoatrait, in a move to promote knowledge, production and consumption of fine chocolates in India, has partnered with Capco, UK. Capco is a leading manufacturer of Materials Testing and Sample Preparation Equipment. Cocoashala has been initiated by Poonam Chordia and L Nitin Chordia and they intend to set up a functional demonstration ‘bean to bar making unit’ in Chennai using the cocoa winnower from Capco. This will be India’s first, one-of-its-kind chocolate school to spread the art and science of bean to bar and fine chocolate making in India. Starting in August 2016, Cocoashala shall provide an opportunity to students and enthusiasts to learn the art of bean to bar and fine chocolate making using the world’s best laboratory scale equipment.
L Nitin Chordia is India’s only certified chocolate taster and judge at the International Chocolate Awards, London. Under him Cocoashala will work with farmers and also relevant stakeholders in the cocoa/chocolate industry to help to develop better products. It will provide an opportunity for enthusiasts to see and experience the equipment in action right here in India. It will serve as a platform for chocolate lovers to relive the art of chocolate making and enjoy chocolates. India is at a nascent stage of developing their bean to bar market and has now started to show a lot of interest in fine chocolate making. Cocoashala shall also be distributing Capco products in India.
Jubilant FoodWorks to launch innovative BurgerPizza
Jubilant FoodWorks have announced the launch of a new innovation for the Indian food market – the BurgerPizza. The new Domino’s BurgerPizza is an exciting addition to their menu and is the result of the company’s focus on innovation and growth. Starting at Rs. 89, the BurgerPizza range is available in two vegetarian and two non-vegetarian variants at 100 plus Domino’s Pizza restaurants across India. The BurgerPizza can also be ordered from Domino’s online ordering platform and through Domino’s Pizza mobile app. With BurgerPizza, the company aims to grow its share in the ‘all day, individual consumption’ occasion. The company hopes that this will add to its further growth in the Quick Service Restaurant sector. Indian Food Service Industry is pegged to grow three-fold to Rs. 25000 crore in the next three years.
Aadya Restaurants acquires ChennaiChef
Hyderabad-based start-up, Aadya Restaurants’ Dosa Place’ has acquired Sukashree Agro Foods’s retail brand ChennaiChef for an undisclosed amount. Founder Ajay Koneru says the acquisition will help to standardize the quality and taste of food across all their restaurants and food trucks and also help them step into the world of retail. They wish to be known as the McDonald’s of south Indian food. Aadya Restaurants will use ChennaiChef’s products to prepare the food served at their quick service restaurants and food trucks through a centralised kitchen and also house those products for sale. Presently the start-up operates only in Hyderabad but will soon move to other cities in India. They plan to open 36 quick service restaurants in the next 18 months, starting with Bengaluru. For the expansion, Aadya is looking to raise Rs.12-13 crore and is in talks with several parties.
People & Appointments
Coca Cola to get first woman CFO in India
Sarvitha Sethi is to become Coca-Cola’s first woman CFO. Presently she is commercial finance director for the beverage company’s Central and Southern Europe operations. She has been named as VP finance for India and South West Asia. The move is being seen as a recent trend by top companies to hire women in key decision making posts. Sethi will take over from Sanjeev Kumar who is to become Coca-Cola’s finance director for South and East Africa which has 35 countries in its portfolio.
Coca Cola has also moved some of its top India executives to head operations outside India. Among these are Sanket Ray, who will be GM in Vietnam, Mayank Arora is to shift to Sri Lanka while Puneet Varshney will be heading towards Nepal. All these executives are from the bottling unit of Hindustan Coca Cola Beverages. This move is in alignment with Coca Cola’s global bottling trajectory and aims to reduce costs and divest from bottling operations as that is what stakeholders want.