Harley Foods plans to raise Rs 20 cr through PE

After having launched snacks, company now wants to foray into juices, confectioneries and biscuits

Surat-based Harley Foods Products Private Limited is planning to raise around Rs 20 crore through private equity to fuel its next level of expansion. After having launched snacks, the company is now planning to foray into juices, confectioneries and biscuits.

“We already have two manufacturing units and are in the process of setting up two new by next fiscal. We have already invested around Rs 6-7 crore for launching snacks under the brand name ‘Harley’. We are now foraying into juices, confectioneries and biscuits for which we would look at private equity investment of Rs 20 crore,” said Soumiik Mitra, CMD, Harley Foods.

 

With a tagline of ‘Bache Khush Toh Hum Khush’, Harley Foods is primarily targeted towards kids and families with a range of potato chips and namkeens. The company will continue to do so through fruit beverages and confectionery products.

The company currently has 27 products in its basket. Expansion of market is also on even as the company looks to cover 60 per cent of the whole domestic market by next fiscal, said Mitra.

"Our company has a highly experienced team in Sales & Marketing which has over two decades of experience in FMCG business across Pan India and International Markets. Harley Foods plans to introduce an Era of Goodness, Freshness and of Sensational Taste in the market and has rich experience along with innovative ideas and plan to launch variety of products across India. After months of test marketing and market feedback, we are now confident to address the national market and are also looking for interested Investors and industry leaders to assist us in our marketing drive," added Mitra.

Moreover, going forward, the company is also looking at exports to international markets such as the US, Canada, Australia, Gulf and other Asian countries.