Companies

Mrs Bector’s Foods to set up new facility

PTI New Delhi | Updated on March 15, 2011

cremica

Mrs Bector’s Foods Specialties, which sells the ‘Cremica’ brand of biscuits and condiments, today said it is planning to set up a new plant in India as part of its strategy to achieve sales of Rs 750 crore by the next financial year.

“We are setting up a plant in the Western region of the country. We have acquired land near Mumbai. This will be our second facility for liquid condiment,” Mrs Bector’s Food Specialties Managing Director, Mr Akshay Bector said.

Asked how much the company is likely to invest on setting up the plant, Mr Bector said the firm is currently evaluating the financial details and the capacity of the facility.

At present, the company has six plants across the country, of which only one of them produces liquid condiments like ketchup and tomato sauce, sold under the brand ‘Cremica’. The rest of the plants make snacks and biscuits.

Mr Bector said the company expects to garner sales of Rs 500 crore this fiscal and around Rs 750 crore by the end of the next financial year.

“We are expecting sales of Rs 500 crore, a 30 per cent sales growth over last fiscal. By the end of the next fiscal, we should be doing around Rs 750 crore,” he said.

As part of the strategy to achieve the target, the firm has expanded its product range in the condiments category, revamped its retail distribution network and is looking at enhancing its presence in overseas markets.

At present, 30 per cent of the firm’s sales come from overseas markets, including Canada, the UK and the USA.

“We have revamped our retail distribution, expanding into the Western and Southern region of the country. We are mostly present in the Northern states. Besides, there is demand for our ethnic snacks from outside the country,” Mr Bector said.

Published on March 15, 2011

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