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| Parle Agro plans to invest in five confectionery units by 2009 |
| Tushar Pawar / Nashik Nov 03, 2008, 00:56 IST |
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As part of its plans to expand the company’s confectionery business, food and beverage company Parle Agro has said it will set up five factories by next year.
The Rs 950-crore company, which entered the confectionery market last year, currently has only one factory for making confectioneries, while it has 26 facilities for packaged drinking water ‘Bailley’ and 10 plants for beverages.
The confectionery division of Mumbai-based Parle Agro has already launched four brands —Mintrox, Buttercup, Buttercup Softease and Frewt Eclairs.
“Our confectionery brands are doing exceptionally well. We are adding five new factories across India for this division by early next year. We are looking at introduction of many new innovative categories and products to facilitate high growth and excitement in the market,” Nadia Chauhan, director, Parle Agro, told Business Standard. However, she refused to divulge details about the investment.
On the company's recent entry into 100 per cent pure juice category, Chauhan said, “Most juice brands do not communicate clearly whether they are nectar, 85 per cent juice or 100 per cent pure juice. Consumers are confused with what they are buying. Only 100 per cent juice is pure juice and has no added sugar, colour or preservatives. Considering this fact, we have recently made a strategic addition to our product portfolio by entering the 100 per cent pure juice category. Our new brand Saint Juice is targeted at the fast growing segment of consumers, who are moving towards 100 per cent juice. With Saint Juice, consumers don’t have to think twice as we have only 100 per cent juice and no nectars or drinks within our juice range.”
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