Business Daily from THE HINDU group of publications
Tuesday, Jan 25, 2011
ePaper | Mobile/PDA Version | Audio | Blogs

Foreign Exchange

Group Sites

Corporate - Mergers & Acquisitions
States - Kerala
Platinum Group buys Craze biscuits

- K.K. Mustafah

Snack food:Mr B. Rajagopal (left), Managing Director, Platinum Group, handing over Craze brand products to Mr Kang Choon- Tong, Director, Sing Venture Foods Pvt Ltd, at a luanching ceremony at Kochi on Monday.

Our Bureau Kochi, Jan. 24

The Kochi-based Platinum Group has acquired Craze brand of biscuits, which has a strong presence in the Kerala market.

The company has acquired the brand in collaboration with Sing Venture Foods Pvt Ltd, a company promoted by the Singapore-based Halee Investments Pte Ltd.

Addressing a press conference here on Monday, Mr B. Rajagopal, Managing Director of Platinum Group, and Mr Kang, promoter of Sing Venture, said that Craze brand has launched four varieties of snack foods in the market. The biscuits will hit the market soon.

Sing Venture has set up a modern factory near Chennai with a capacity to produce 75-90 tonnes a month. The company is looking at a sales turnover of Rs 50 crore in the first year of operations and Rs 100 crore in the next three years.

After the initial launch in Kerala, the products will be marketed in South India and will have a pan-India presence in 3-4 months.

Craze had a 12 per cent market share in the State's biscuits market. Launched in 1985, it was a strong regional player with more than 35 varieties of biscuits.

The product was also widely accepted in overseas markets of Botswana, South Africa and the West Asia. Craze is among the top four biscuit brands in Kerala.

The snack food market in Kerala is growing fast and the market is estimated at Rs 150 crore.

The Chennai manufacturing facility can produce a variety of snack foods, which are baked and fried.

It meets the international standards and some products are even new to the Indian markets, Mr Kang said.

More Stories on : Mergers & Acquisitions | Food & Dairy Products | Kerala

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Gayatri Projects bags two orders

Supreme Infra bags road project
Birla Corp's net profit drops 38%
L&T carves out 9 business verticals
Philips-Preethi deal — a blending of synergies
Mahindra group buys minority stake in The East India Company
Platinum Group buys Craze biscuits
Philips makes a match with Preethi
We are performance, not price, players: Mahindra Navistar
Quintiles ties up with Apollo to foray into Indian phase-I clinical trials space
Camlin ties up with Zebra of Japan
Asian Paints extends tie-up with PPG Industries
Underwriters Labs opens PV testing facility in Bangalore
High power plans
All clear for Hero and Honda to part ways
Reliance slips as brokerages voice concern on E&P business
Luxury carmakers plan to take the fast lane in India
Refiners defer Q3 results in hope of compensation package
Jairam pitches for fiscal sops to firms for green compliance
New Sandvik Materials Tech President

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2011, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line