Snapshots of Food Industry News
Bikano Launches New Range of Namkeen Snacks
The Bikano brand, which is currently worth Rs. 1000 crore, has launched new namkeen products. The new namkeen products include “Aloo Bhujia-Lemon Chaska”, “Chutney-Sev”, “Chatpata Mixture”, “Manpasand Mixture” “Lajawaab Mixture”, “Daal Mixture”, and “Dry Fruit Mixture”. These products are likely to fetch the company an additional Rs. 75 crores in sales this year and in the next three years the brand could cross the Rs 1500 crore mark. The Bikano brand ‘s successful “Barson Se Bikano” marketing campaign as well as its strong distribution and retail strategy has enabled them to create deeper footprints in west and south India too.
The new range of products have been developed keeping in mind customer demand for healthier, tastier and more affordable snacks. The launch just before Holi season will meet the increase in the demand for healthy in-home snacks. Gifting of packaged salty snacks is also on the rise and the new range is geared to offer consumers better options to choose from. Bikano’s new range of products will be available across India, straddling modern trade, general trade and online channels as well.
Coca-Cola’s Paper Bottle Likely to Open up Sustainable Packaging
Coca-Cola has created an innovative paper bottle for its plant-based beverage AdeZ. According to a survey by GlobalData this change in packaging is likely to attract the 43% of global consumers who make a product purchase based on how ethical or environmentally friendly a product is. This move by Coca-Cola is also likely to encourage other companies to launch plastic packaging alternatives and consumers are likely to see paper-based bottles for other liquid products like beers, soft drinks, juices and ready-to-drink items.
The GlobalData’s survey also found that 22% of global consumers now view recyclable or reusable packaging as significantly more important since the pandemic began, while 12% claimed it was their top priority. Governments and consumers world-wide are increasingly keen that companies develop and use sustainable packaging innovations. Therefore, Coca-Cola’s packaging innovation is an important step that is likely to see the development of a viable liquid packaging solution which will further have a positive impact on the beverage industry.
Barbeque Nation to Come Out with IPO Offering
Casual dining chain Barbeque Nation Hospitality is likely to come out with an initial share sale soon. The initial public offer comprises fresh issue of shares worth Rs 180 crore and an offer-for-sale of up to 5,457,470 equity shares. The company owns and operates Barbeque Nation Restaurants, currently operating at 138 outlets across India and 7 outlets in the UAE, Oman and Malaysia. Barbeque Nation Hospitality is backed by private equity investor CX Partners and renowned stock market investor Rakesh Jhunjhunwala’s investment firm Alchemy Capital.
Barbeque Nation Hospitality, which filed preliminary papers in February last year, received Sebi’s approval in July 2020 to float the IPO. The company has already raised Rs 150 crore through a pre-IPO placement from Xponentia Capital and Jubilant Foodworks. Proceeds of the issue will be utilised to fund the company’s capital expenditure for expansion, besides prepayment or repayment of certain borrowings and expenses related to general corporate purposes. The issue is being managed by IIFL Securities, Axis Capital, Ambit Capital and SBI Capital Markets.
The Appumm House Launched in Delhi-NCR
The Appumm House, was launched in Delhi-NCR recently with their first flagship QSR in Worldmark, Sector 65, Gurgaon. By the end of this year, the brand plans to open another outlet in South Delhi. The Appumm House is a new small coastal food delivery venture with a unique twist. Here hot appumm are prepared on a traditional ‘appachatti’ along with different stews, curries, and garnishes. The Appumm House, will bring one of the most loved South Indian breakfast favourites, “appumm” straight to your homes with a new delivery outlet in Gurgaon.
The traditional Kerala Appumm is a flatbread, the one served at The Appumm House is a unique bowl-shaped appumm that is 4 inches deep and 8 inches in diameter. The brand has over 50 varieties of non-vegetarian and 30 varieties of vegetarian appumms in its menu. They also have a unique variety of curries including drumstick pulimunchi, pineapple yellow curry, Malabar white stew, mushroom curry, Goan fish curry, and loads more. Over 70% of its menu is influenced by Mangalore and the rest of the menu is curated from Kerala, Andhra, Goa, and Konkan.
NuShakti Launches Home Food Fortification Products in Kerala
NuShakti has launched a range of home food fortifiers in Kerala and are likely to expand their reach across the country. Introduced in 2019 in Tamil Nadu, the product range includes powermix for Rice (fortified rice kernels added to regular rice), powermix for Atta (fortifier for atta/flour that is mixed with regular atta) and Mixme (fortified powdered beverage mix available in three flavours).
The products are formulated with essential vitamins and minerals to meet the nutritional needs of urban and rural consumers who want better nutrition and healthier lifestyles. The micronutrients present in these products can provide a healthier diet and do not alter the taste, smell and appearance of daily foods. NuShakti products are also designed to offer immunity-building nutrients. The products are available across modern trade outlets and large retail groceries across Kerala and Tamil Nadu, as well as on e-commerce platforms such as Amazon and BigBasket.
Happy Jars Raises Seed Funding
Happy Jars has raised a seed round of Rs 3 crore, led by Inflection Point Ventures (IPV). Started in a home kitchen Happy Jars has scaled nationally and has acquired about one percent of the national peanut butter market. The funds raised will be used to launch new flavours, scale operations, build brand awareness and expand distribution to Tier 1 and Tier 2 cities, including Mumbai and Bengaluru. Inflection Point Ventures’ mentor and investor network is strong and offers guidance that is invaluable for a start-up that is scaling and Happy Jars is delighted to be partnering with them.
The demand for healthy options and natural, preservative free food brands is on the rise. Happy Jars is seen as a nutritiously rich and recognizably clean brand that vouches for 100 per cent quality control with their own manufacturing unit based in Delhi. Their unsweetened peanut butter is made with pure nuts, with no hidden ingredients. All their products are vegan and gluten-free, without any oils or preservatives. Happy Jars is available across retail stores in Delhi, NCR and all leading e-commerce portals including Amazon, Big Basket, Milkbasket, Swiggy and GOQii.