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MEAT & SEAFOOD

Frozen food co Chevon Agrotech secures funding from Greenfield Advisory
Wednesday, 25 October, 2017, 08 : 00 AM [IST]
Our Bureau, Mumbai
Chevon Agrotech Pvt Ltd, an integrated frozen food company, has received its latest round of funding from Singapore-based investment management firm, Greenfield Advisory, with a significant million-dollar investment value.

The former will allocate a portion of the acquired funds to expand its senior management team and develop new products.

With plans to enhance its reach to all major markets in India, Chevon, a leader in the goat meat segment, will also utilise the funds to launch marketing campaigns, ramp up distribution and drive its international forays into the Middle-Eastern and South-East Asian markets.

A major driver behind the company’s international expansion is the rising popularity of goat meat as a superfood and the vast global potential this untapped market presents.

Chevon has solely-owned livestock farms & processing facilities in the country. Quality, the byword at the company, underpins all its operations.

It has two main brands of goat meat products, namely Chevon and Kuzo. The former is a premium brand that offers two frozen product categories, namely Raw and World Cuisine Heat N Eat, while the latter offers ready-to-eat products under the Fry N Eat range.

Besides these, Chevon offers institutional packs of the raw and ready-to-cook ranges of products for the hotel, restaurant and cafe (HoReCa) segment.

It processes products to the tune of one ton per day, and its most popular products include raw boneless, raw minced, Turkish kebabs, cheeseburger and Moroccan sausages.

Chevon’s processing and cold storage facility, located in Navi Mumbai, has been approved by the Agricultural and Processed Food Products Export Development Authority (APEDA) and the Food Safety and Standards Authority of India (FSSAI).

It is equipped to undertake state-of-the-art processes such as blast freezing, plate freezing, chilling, packing and cold storage. Chevon’s unique selling proposition (USP) is its 80-20 process, wherein only 80 per cent of the best cuts are selected to be finally packed.

Goat meat is the latest addition to the list of superfoods this year, and it is all set to shake up diets and cuisines across the world.

Its status as a superfood is owed to its being high in protein and iron, while being very low in fat, making it a great source of nutrients for meat eaters.

The fat content of goat meat is also 50 per cent lower than other types of red meats and is 40 per cent lower in saturated fat compared to chicken.

Studies have also shown that consuming goat meat reduces the risks of coronary diseases, helps prevent cancer, improves cholesterol levels, lowers the risk of obesity and keeps the body healthy.

Rizwan Thakur, founder and chief executive officer, Chevon Agrotech, said, “We are indeed thrilled at the trust that Greenfield Advisory has placed in our brand, our product and business model.”

“The funding received will help us capitalise on the vast global opportunity in the goat meat segment, and promote our products in India, as well as internationally, as a high-quality source of protein with minimal impact on the environment,” he added.

“Also, goat meat being recognised as a superfood further validates our brand’s message which has further been bolstered by Greenfield's investment,” Thakur said.

“India and the world need this source of protein to be made more readily available and we’ll be leveraging the capital raised in that direction,” he added.

“Moreover, our products are among the best in the market, and we ensure a consistent superlative quality across our entire product range by only following the best and approved practices through all stages, from production to packaging,” Thakur stated.

Deepak Mishra, chief executive officer, Greenfield Advisory, said, “As an investment management firm, we actively seek opportunities for early-stage investments into fast-growing sectors for funds we manage.”

“We are pleased to partner with Chevon to help build a sustainable goat meat business which has established health benefits and a widespread preference in India,” he added.

“Further, it offers us a unique opportunity to provide consumers with high-quality, protein-rich meat with the convenience of use in various categories,” Mishra said.

Greenfield Advisory advises institutional and accredited investors in managing investments.

It endeavours to explore opportunities in emerging markets such as South-East Asia, by way of both active and passive investments, such as private equity and hedge funds, and invest in public as well as private markets.
 
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