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Chennai-based ‘value-added spice' seller, the Rs 450 crore Aachi Masala Foods Pvt Ltd, is setting up a 10,000-tonne cold storage facility as a prelude to diversifying into a range of businesses.
Mr A. Padmasingh Isaac, Chairman , said the company will be moving beyond the masala mix and getting into a range of products that may include mineral water, fruit juices and even some South Indian snacks.
It also intends to get into the fast-food restaurant business, where the menu will be “predominantly chicken-based,” said Mr Isaac. The company has drawn up a Rs 100-crore investment programme for the diversification.
The cold storage facility is coming up on a 3-acre plot at Gummidipoondi, 40 km north of Chennai.
Aachi Masala, a household name in Tamil Nadu, is known for its spice-based products and its range of ready-to-cook food items and edible oils (sunflower and gingelly). Besides, it also has a range of ayurvedic OTC products such as rheumatic pain reliever, tooth powder and cough syrup under the brand Sabash. In the homecare category, it has mosquito and other insect repellents, cleaning powder under the brand ‘Twinkle.'
The company, which expect to end the current year with a turnover of Rs 600 crore, is looking for a strategic investment partner to pump in funds for its proposed new businesses, including mineral water, snacks and fruit juices, Mr Isaac said.
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