FMCG company Cremica Food Industries is hoping to raise its distribution network to one lakh outlets in three years. The firm presently runs 15,000 stores. It is also eyeing Rs 1,000 crore turnover by 2020 as the company looks forward to enter new product categories and expand distribution reach, reported PTI.
"We are aiming for Rs 1,000 crore turnover by 2020. We are looking at entering new product categories and also increase out distribution reach," Cremica Food Industries Chairman and Managing Director Akshay Bector was quoted as saying by the news agency.
In order to ramp up its manufacturing capacity, the firm plans to invest Rs 200 crore in the next three years to set up a food park and manufacturing plant in hill state of Himachal Pradesh. The plant is likely to begin operation in the next fiscal. Mayonnaise, jams and ketchups are the new categories, it plans to come up with. 35 per cent of its total sales come from McDonald's, Taj Group, Subway, Domino's Pizza, PVR, Starbucks, Big Bazaar, Barista, Cafe Coffee Day and Papa John's, added the PTI report.
Cremica is a widely diversified Indian food products company and is a frontrunner in both food retailing and food services industry. The group has a range of sauces, mayonnaise, toppings, syrups, biscuits, Indian snack foods, stabiliser blends and ice-creams. It has emerged as a preferred consumer brand and a leading supplier to Indian and global food majors.
