Italian Cuisine Chain In Talks For Franchise Alliances

The company is in talks with domestic companies for franchise tie-ups to bring in its Albagro restaurant chain. Carexco is willing to offer its alliance partners transfer of technology, management and marketing expertise.

Albagro serves traditional Italian cuisine like lasagne alla bolognese, tortellini with ham and cream, tagliatelle alla bolognese, and penne all'arrabbiata.

Dominico Carroccia, chief executive of the group, was in the country recently, exploring business prospects. The company has hired the Delhi-based research consultant, Infinitum Impex, to prepare a feasibility report on other business opportunities available in the country.

Pointing out that only 1.5 per cent of the total fruit and vegetable production is processed in the country, Carroccia said: This is the industry for future for India. Carexco is also exploring other areas for entry into the agro-processing industry.

 

It has already signed a memorandum of understanding for a tomato-paste joint venture with the Hyderabad-based Indian Tropicons. The Rs 12.5-crore project would involve 10 per cent equity participation by the Italian multinational, with the latter guaranteeing 100 per cent buy-back of the product at ruling international prices.

Carexco has signed a second MoU for frozen french fries and potato chips with Eastern Metal & Ferro Alloys Ltd, an Orissa-based company diversifying into the agro-processing field. The proposed venture would involve 50 per cent product buy-back by Carexo, which will pick up 20 per cent equity in the Rs 6-crore project.

The company expects to start plant operations in the country by mid-1997.

It is now scouting for joint venture partners for other projects, including tomato and mango processing plant, apple concentrate plant and a dehydrating plant forvegetables.

Of the total worldwide sales of $93 million, the company sells 15 per cent in Italy, while the rest is exported to 35 countries in Europe, South America, Africa and West Asia.- #include virtual="/incs/right.asp"-->