Companies

IVL Dhunseri Petrochem looking to diversify, eyes food business

Our Bureau Kolkata | Updated on January 09, 2018 Published on August 07, 2017




Having transferred its PET (Polyethylene Terephthalate) business to its joint venture company – IVL Dhunseri Petrochem Industries Ltd - Kolkata-based Dhunseri Petrochem is exploring new areas for diversification.

The company, which is currently engaged in trading business, will focus on the food business moving forward.

According to CK Dhanuka, chairman, IVL Dhunseri Petrochem, Tastetaria, its fully owned subsidiary has signed a franchisee agreement with Uno Pizzeria & Grill, known for its Chicago style deep-dish pizza.

“We are very bullish about the food business,” Dhanuka told Business Line on the sidelines of the company’s annual general meeting here on Monday.

Under the franchisee agreement, the company plans to set up three full service dine-in restaurants by March 2018. “We will add 60-70 outlets in the next five-to-seven years,” he said.

The company had recently acquired Twelve Cupcakes - a niche patisserie chain in Singapore. The venture, which was making losses, has now turned profitable and is on an expansion mode, Dhanuka said.

The company is also exploring the possibility of getting into manufacturing of cheese. “There is a good demand for branded cheese. We are in negotiations,” he said.

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Published on August 07, 2017
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