INDIA: PepsiCo, LT Foods in co-packing deal for Kurkure
Dehli-based LT Foods is known for its Daawat Basmati rice brand
Global snacks giant PepsiCo has asked Indian firm LT Foods to co-pack its Kurkure rice snack brand for the local market.
The deal with Dehli-based LT Foods, known for its Daawat Basmati rice brand, will create "new avenues" for both companies, PepsiCo said.
"India foods business has been a growth driver for PepsiCo globally recording consistent high double-digit growth rates over the past few years," said Praveen Someshwar, CEO of PepsiCo Foods India. "Our flagship snack brands, Lay's and Kurkure are lovemarks and have now become Mega Brands with sales of more than Rs. 1000 crore each. To build on this opportunity in a growing market, we are looking at greater support from our business partners who have been playing a critical role in our business operations."
Someshwar said he believes an opportunity for direct and indirect employment will be created through the partnership in Haryana.
It is understood a new facility has been opened as part of the deal, under Daawat Foods, a majority-owned subsidiary of LT Foods. According to reports, the plant is located at Kamaspur, Haryana on the outskirts of Delhi.
PepsiCo would not comment further on details of the partnership agreement or on the opening of a facility.
UK ministers and food industry leaders are keen to expand the reach of the Responsibility Deal in 2013 to show its many doubters that voluntary pledges can help to deliver healthier diets for consumer...
PepsiCo has benefited from its strong presence in sweet and savoury snacks, which continue to make up the majority of its sales in packaged food. It did however reduce its reliance on this category wi...
Obesity is a global epidemic that is "bankrupting economies and short changing futures", we were told during a round table at the World Economic Forum in Davos this weekend....
It is still not clear what the new hybrid nutrition labelling scheme is supposed to look like, according to the chair of the Food & Drink Federation's health and wellbeing group....
- Deal or no deal: Frozen sale makes sense for Kerry
- On the money: How Greencore is outperforming
- Comment: Mondelez digital strategy suffers blow
- Shopper trends: Promos can mean higher prices
- JBS sees big opportunity from Primo Smallgoods
- Kerry puts frozen food unit on block - reports
- Coca-Cola eyes long-term rewards with dairy push
- Post issues warning over US cereal sector sales
- UPDATE: Greencore eyes US$1bn US business
- Abraaj outbids Kellogg with fresh Bisco Misr offer