Vadodara-based freeze dried food products manufacturer Saraf Foods Limited on Thursday announced enhancement of its production capacity by 50 per cent at an investment of Rs 15 crore.
The current capacity of Saraf Foods Limited in 7.5 tonnes per day which will now go up to 11 tonnes per day, said Suresh Saraf, chairman and managing director, Saraf Foods Limited.
“With this enhancement, we move one step forward towards our ambitious target of achieving 10-fold increase in turnover by 2018,” he said.
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To further growth, the company is looking forward to explore merger and acquisition opportunities, Saraf said.
The enhancement comes after Mauritius-based private equity fund DSG Consumer Partners acquired 29 per cent stake in Saraf Foods for Rs 10 crore at the beginning of 2014.
Required funds were met from DSG investment, internal accruals and term loan from public sector lender State Bank of India, the company said in a statement.
Prior to this expansion, the company quadrupled its production capacity in a span of five years.
Of the current produce, Safar Foods exports 60 per cent while the remaining is sold in the domestic market. Freeze drying is the premium technology for food preservation and is among the preferred food preservation techniques across the world.
