Packaged food major, Kellanova India, formerly known as Kelloggs India, said it is focusing on doubling household penetration from the current 40-50 million households over the next few years.The company said it is witnessing strong growth for its Kellogg’s Muesli portfolio and has also gained share in the cornflakes segment.

In a global announcement in August, Mars, Inc said that it has inked a definitive agreement to acquire Kellanova. Prashant Peres, MD, Kellanova India & South Asia told businessline,”Kellanova has been on a transformative journey to become the leading snacks-led company. With the recent announcement, we now have the exciting opportunity to join Mars, which will help us accelerate our vision and reach our full potential even faster. This announcement is just the first step in the process. Until the deal closes, both companies will remain completely independent, and it will be business as usual for all of us.”

Talking about the company’s strategy he said, “ Currently, our household penetation is estimated at about 40-50 million households. Our target is to increase it to about 100 million households over the next 3-4 years. We believe we offer a really strong proposition to consumers of health, nutrition and convenience that will help us build a big business over the long term.”

The company has been focusing on revamping its portfolio in the past few months. It said that its Kellogg’s Muesli portfolio’s household penetration has grown by 1.5 times and the brand has tripled its growth compared to a year ago. “The recent introduction of Multigrain Chocos, offers a balance of nutrition, convenience and taste. Despite the renovation being recent, the new proposition is beginning to show positive signs of growth for the portfolio, with Chocos portfolio gaining 400 bps market share over the last 3 months,” he added. The packaged food major said it has been gaining share in both cornflakes and muesli segment.

“Pringles was introduced in India in 2015 and the brand’s growth momentum has been driven by a strong focus on flavors which appeal to Indian consumers resulting in excess of 20 per cent market share in premium potato chips ,” Peres added.

Asked about demand trends , he noted that after sluggishness the industry is now witnessing an uptick in consumption momentum and is expected to bounce back strongly in the second half of the fiscal.

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