Bingo! ITC plans Rs150cr spend in snacks biz

Following the launch of its snacks brand 'Bingo' in 16 different flavours, ITC's Food Division today said it will invest Rs 150 crore in the next two years for its foray into the snacks segment and is eyeing 25% market share of the Rs 2,000 crore organised market in the next 4-5 years.

"We have already invested Rs 60-70 crore for our foray into the snacks segment. In a couple of years we will be investing Rs 150 crore for the foray," Ravi Naware, chief executive, ITC Foods Division, said here.