R ARIVANANTHAM
CHENNAI, MARCH 4
Hyderabad-based Gemini Edibles and Fats India Ltd, India’s leading Sunflower oil company with 21.7% All-India Market Share (Freedom & Be-Rite) and Coimbatore-based Sree Annapoorna Foods, one of country’s oldest spice processing brands, on Tuesday announced forming a joint venture – GEF Foods India Pvt Ltd – to make and distribute masalas, meal mixes and more across the nation.
- The JV will ensure the brand to achieve Rs 1000-crore turnover in the next 5 years: Vijay Prasad, Managing Partner of Sree Annapoorna Foods and CEO of GEF Food India Pvt Ltd.
- The Gemini Edibles and Fats India is entering the spices business through GEF foods Pvt Ltd as part of its diversification strategy: Akshay Chowdhry, Group Vice President, Gemini Edibles and Fats India Ltd,
- This joint venture will benefit from the deep market knowledge and distribution network of GEF India and help Annapoorna masalas grow its presence: Chandra Shekhara Reddy, Senior Vice President – Sales and Marketing, Gemini Edibles and Fats India
Announcing this at a press conference here Akshay Chowdhry, Group Vice President, Gemini Edibles and Fats India Ltd, said, “We are thrilled to join hands with Sree Annapoorna Foods and launch GEF Foods India Pvt Ltd. Both the organisations follow the highest standards of professionalism and wish to give customers a multi-sensory experience of cooking and eating, while also relishing our rich culinary culture.”
He said, the Gemini Edibles and Fats India is entering the spices business through GEF foods Pvt Ltd as part of its diversification strategy.
With 70:30 partnership, the Gemini Edibles ad Fats India Ltd has already invested Rs 70 crore investment in GEF Foods India Pvt Ltd, he added.
Chandra Shekhara Reddy, Senior Vice President – Sales and Marketing, Gemini Edibles and Fats India said, “Sree Annapoorna Foods is an iconic brand and with a whole range of masalas catering to different tastes of the consumers. With an experience of 50 years, Annapoorna masalas and spices carry a rich legacy. This joint venture will benefit from the deep market knowledge and distribution network of GEF India and help Annapoorna masalas grow its presence.”
Vijay Prasad, Managing Partner of Sree Annapoorna Foods and CEO of GEF Food India Pvt Ltd, said, “We are elated to partner with GEF India to do deliver healthy and tasty masalas to consumers. As the pioneer in the spices industry, we will continue to deliver the best. Backed by GEF India’s strong distribution network, Annapoorna masalas would soon be available across India. With growing culinary culture, increased health awareness and rise of e-commerce platforms, the demand for organic and premium spices is rising. Brand Annapoorna has always been synonymous with quality, and we wish to build further on that by emphasizing on quality sourcing and eco-friendly packaging initiatives.”
The partnership will enhance the product portfolio of Annapoorna Foods. Sizeable amount of initial investment will be used for setting up R & D laboratory to improve the product portfolio according to the region-specific taste in future. The present production capacity of the Coimbatore plant will be enhanced to 100 per cent and while expansion, the second plant would be established in Andhra/Telengana Region, he added.
Mr Vijay Prasad said the JV will ensure the brand to achieve Rs 1000-crore turnover in the next 5 years.
Over the years, Sree Annapoorna Foods has captured the essence of the precise tastes of regional dishes and has been bringing the richness, the authenticity and traditional techniques of home-cooked food from across the country to the plates. Their specialty products include pure spices, regional blends, blended spices and biryani masalas.
