- June 10, 2019 / 4 min readRecently, Heritage Foods signed a joint venture with Nova Dine, the French dairy company, to foray into the fruit flavored yoghurt domain for increasing its VAP range.
Dairy major Heritage Foods Pvt Ltd is planning to increase the business share of value-added products (VAP) from the present 22% in its current portfolio to 40% within four years. In order to achieve this, the company looks to come up with new varieties of yogurts, butter milk, lassi, flavoured milk and ice cream.
Recently, Heritage Foods signed a joint venture with Nova Dine, the French dairy company, to foray into the fruit flavored yoghurt domain for increasing its VAP range.
Brahmani Nara, ED, Heritage Foods, said, “As a leading dairy brand with a strong presence in South India, we strengthened our presence in the northern region after acquiring Reliance Dairy. We believe Heritage is smartly straddling the high-returns pouch milk segment and high-growth and margin accretive medium shelf life curd and yogurt segment. We plan on focusing on segments that entail high margins and low working capital.”
The company achieved consolidated revenues of Rs 16.8 crore for the quarter period ending 31st December 2018.
“The company’s vision is to achieve a turnover of Rs 6000 crore by FY 2022. This would require a 20% to 25% growth rate,” Nara stated.
She added, “We have undertaken various strategies to achieve this goal. This includes setting up a greenfield yoghurt plant by 2019 to improve the contribution from the VAP segment to 40% by 2022. Additionally, we want to increase our market presence by increasing our capacities in procurement, processing and packaging.”
Search for top Restaurant Suppliers in your city