With the expansion in dressing segment, Dr Oetker aims to make FunFoods a 500-crore brand by 2020. The company established its presence in India about a decade ago.
Dr Oetker India crossed the 200- crore turnover mark last year, thanks to brand FunFoods, which it acquired in 2008.
“We define ourselves as a company that offers comfort food. We are focussing on building new categories for consumers here in India and see a huge potential for growth. While we support the India business with the expertise from other markets, as a consumer-centric company, we want to offer products that meet the needs of Indian consumers,” said Martin Reintjes, Member of the International Executive Board, Dr Oetker’s food division.
On the inorganic growth strategy for India, he said, “We are open to acquisitions and are actively screening the market for opportunities.”
Oliver Mirza, MD & CEO for India said: “We have defined a vision of making Dr Oetker India, a 1,000-crore company. We believe FunFoods will cross the 500-crore turnover mark by 2020.
The balance revenues will come through inorganic growth opportunities and exports.” The company has already started exporting to markets like Malaysia and Sri Lanka from India.
Source: The Hindu