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Friday April 10, 05:48 PM
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Source: Hindustan Times
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Godrej Tyson Foods plans expansion
Godrej (GODREJCP.NS : 281 -7.6
) Tyson Foods, the $50-million packaged foods company, is planning a multi-million dollar expansion to increase its presence in the country. The company would also enter the ready-to-eat and heat-and-eat packaged foods business in the next 12 months, Sadiq Malik, CEO of the company said.
Godrej Tyson is a 49:51 joint venture of the two companies. The current target market of the company, which is primarily in processed chicken, is about Rs 300 crore.
"We are the largest player in the ready-to-eat segment in the US and are planning a rollout in India," Malik said. ITC Ltd is the only large organised player in the segment at this point.
Expansion plans would include stepped up investments over the next five years. While the company will step up its presence in the East, it would also try and capture a larger share of the wholesale and retail markets in other regions, Malik said.
