Cremica Food eyes Rs 1,000 cr turnover by 2020

Firm to ramp up distribution to 100,000 outlets from 15,000 at present; will enter new areas such as mayonnaise, jams and ketchups

FMCG firm Cremica Food Industries Ltd is targeting Rs 1,000 crore turnover by 2020 as the firm plans to enter new product categories and expand distribution reach.

"We are aiming for Rs 1,000 crore turnover by 2020. We are looking at entering new product categories and also increase out distribution reach," Cremica Food Industries Chairman and Managing Director Akshay Bector told PTI.

Cremica Food Industries is looking at ramping up its distribution network to 100,000 outlets in three years from 15,000 at present.

To expand manufacturing capacity, the company plans to invest Rs 200 crore in the next three years to set up a food park and manufacturing plant in Himachal Pradesh.

"This plant is expected to begin operation in the next fiscal," Bector added.

The company is also looking at entering new categories such as mayonnaise, jams and ketchups.

"After test marketing for a few months we are ready to launch mayonnaise, jams and ketchups in the Indian market in this fiscal," he said.

Cremica gets 35 per cent of its total sales from institutional clients which includes McDonald's, Taj Group, Subway, Domino's Pizza, PVR, Starbucks, Big Bazaar, Barista, Cafe Coffee Day and Papa John's.

Cremica's product range includes chips, sauces, sandwich mayonnaise, salad dressings and syrups.