Financial Daily from THE HINDU group of publications
Saturday, Sep 24, 2005
Financial Daily from THE HINDU group of publications Saturday, Sep 24, 2005 |
|
|
|
|
|
Corporate
-
Diversification Avestagen to enter health food business Our Bureau
Bangalore , Sept. 23 AVESTAGEN Good Earth Foods, the new subsidiary of biotechnology company Avestha Gengraine Technologies, will soon foray into foods for health. AGEF will soon add new products to the existing mueslis and crackers and extend its sales and distribution network to Hyderabad, Chennai and gradually to other cities. Avesthagen was looking at exporting them to Europe and the US too, Mr Koen Wentink, Chief Logistics Officer for Avesthagen, said at the formal launch of the new company. "We want to be identified as a health and wellness company," he said. The company has made a sales promotion and advertising outlay of Rs 2 crore for the current year. The products will be medicinal plant based, scientifically validated and the manufacturing on contract at GMP- and HACCP-compliant units. Eventually, AGEF, which will be Avesthagen's platform for `food for medicine' plan, will come out with functional foods that help people with disorders such as diabetes, cardiovascular diseases, osteoporosis and obesity. Breakfast cereals are still a nascent market in the country and growing at 6 per cent annually, compared to a worldwide market of $16 billion. Avesthagen is looking at niche opportunities in vitamin- and mineral and fibre-enriched snacks and nutritious slim bars for new-age consumers. Avestha Gengraine (Avesthagen) acquired the muesli and crackers making company in March from Ms Waheeda Rehman and her partner, Ms Ashrafa Sattar, for an undisclosed sum. The company announced the launch of two new muesli flavours.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|
