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Vegit chalks out expansion plans to increase market share and capacity
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Friday, 18 April, 2014, 08 : 00 AM [IST]
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Our Bureau, Bengaluru
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fiogf49gjkf0d Vegit, the agro division of Merino Industries Ltd, would be embarking upon a massive expansion drive this fiscal. This would include increasing the production capacity of its potato flake plant in Hapur, Uttar Pradesh from the current 8,000 metric tonne (MT) to 12,000MT, with an overall expansion of 50 per cent in 2014-15.
Besides expanding, Vegit also plans to increase its retail presence by 25 per cent (to reach upto 6,250 stores from its current 5,000 stores pan-India). It is currently present in 20 cities, including metros and mini-metros, and plans to grow its presence aggressively by adding ten more cities by end of this fiscal.
The need to increase its footprint is a result of the increase in the demand for its offerings in of the convenience food market. The company is also gearing up to grow its product portfolio by adding new variants of snack mixes to its current product range of nine snack mixes (to take their count to 15).
Vegit’s products are available at general and modern trade outlets, mom and pop shops, hyper- and supermarkets across Bengaluru. “We have understood that the demand of ready-to-cook food market in India is growing, as more people are imbibing ready-to-cook products,” said Prakash Lohia, director, Vegit.
“Therefore, with the concept to reach out to the maximum number of consumers in India, we are expanding our product portfolio as well as the capacity,” he added. Merino Industries is among the largest providers of potato storage and processing facilities in the Indian market.
With an increase in the production capacity, the company would raise its raw potato processing annually to 75,000MT from the current 50,000MT to get 12,000MT potato flakes. The company’s potato processing plant in Hapur is equipped with technology sourced from the Netherlands.
Vegit has an array of products, including Aloo Mash (potato flakes) and nine instant Indian snack mixes (Burger Patty, Aloo Tikki, Aloo Bonda, Soya Rolls, Cheese Balls, Hara Bhara Kebab, Shammi Kebab and Veg Cutlet, and the recently-launched Pav Bhaji mix).
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