HT Bureau
Guwahati, Oct 21: Guwahati-based FMCG major Annapurna Group plans to tap the national market in a phased manner, apart from consolidating its presence and market share in the states where they are present. Annapurna Group currently has more than 900 full-time employees working in Guwahati (Headquarters), Siliguri, and Kolkata and is a key player in five thriving categories of food products, namely, dairy, health drinks, fruit drinks, juices, and agro-based products, providing a mix of traditional and modern offerings for a cross-section of consumers.
The Rs 300 crore group, which has concentrated big time on Research & Development in the recent past will be investing Rs 300 crore by 2025 for their expansion – in terms of foraying into new markets, new product development, and marketing initiatives. Of this, the investment amount earmarked for the North Eastern market is to the tune of Rs 100 crore.
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“After consolidating our presence in the North-East, we are looking to enhance our footprints and market share in West Bengal, Bihar, Jharkhand & Orissa, where we have a selective presence as well as get a foothold in other metros to begin with. We will shortly be introducing here several products from our range of juices, sauces, and dips, all with the great taste and trademark assurance of purity that Annapurna stands for. By 2025, we plan to ensure our presence in all geographical locations of India and we would be also looking for export options. Furthermore, we plan to introduce a new line of Ayurveda-based products and commission a new plant soon for catering to this segment exclusively. With the company currently valued at Rs 1000 crore, we plan to raise funds through private equity to the tune of Rs 300 crore by end of 2023 and finally go for an IPO in 2025,” said Subir Ghosh, managing director, Annapurna Group.
