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Creambell Ice Cream enters TN market; to invest Rs 150 Cr

Press Trust of India  |  Chennai 

Creambell Ice Cream, brand of Devyani Food Industries, part of the USD 1.4 billion RJ Corp. has planned to invest Rs 150 crore as part of its foray in to market, a top official said today.

The company, which holds 15 per cent market share in the Rs 4,500 crore ice cream industry, would build strong presence in over next few years Creambell, CEO, Nitin Arora said.

"We are happy to announce our entry in and we will be focusing over the next few years to build a strong presence here", he said.

In the first phase, he said, the company would focus on establishing its brand in market through retail and vending push carts.

"Creambell expects to invest upwards of Rs 150 crore over the coming years to enhance presence and popularise the brand in the State", he said in a statement.

On expansion plans in overseas market, he said the company was in the process of introducing the ice cream brand in Kenya, Zambia, Mozambique and Tanzania.

Creambell currently has 15,000 pushcarts and 70,000 retail stores across the country. It has state-of-the-art production facilities in Baddi, Himachal Pradesh, Kosi and Goa.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 17 2017. 17:48 IST