17 October 2017

McCain Foods India Pvt Ltd to invest Rs 372 crore at potato processing plant in Mehsana, Gujarat


McCain Foods India Pvt Ltd to invest Rs 372 crore at potato processing plant in Mehsana, Gujarat

In October 2013, McCain Foods India Pvt Ltd a subsidiary of the Canadian major McCain Foods is likely to invest another $69 million i.e. Rs 372 crore, at its potato processing plant in Mehsana, Gujarat, India according to Vikas Mittal, managing director, McCain Foods India Pvt Ltd at Vibrant Gujarat Summit held in Gandhinagar recently.

This investment is mainly done to meet increasing demand by the Indian customers for frozen snacks. There is a transformation in the Indian consumers from traditional spending on food and groceries to lifestyle and convenience food products.

McCain Foods leads the fast emerging market in India for frozen French fries and potato specialties. The company markets French fries and potato products to both institutional customers and the retail market.

McCain Foods India Pvt Ltd has around 1,200 contract farmers over 4,000 acres in Gujarat to cultivate processed quality potatoes in Gujarat. The company will be working with contracted farmers to double the land under potato cultivation, thereby enhancing employment opportunities in the area.

In India, because of the McCain brand, there is a growth of frozen snacks and this growth has resulted in the need for capacity addition. The Indian frozen snack market is on the rise as the combination of taste and convenience is rapidly increasing the retail market. The growth is expected to continue and, hence, even more investment is expected in the short to medium term, according to Mittal. He also added that, for a variety of reasons which includes agro-climatic conditions, a strong base of skilled farmers and infrastructure, Gujarat will continue to be McCain’s preferred destination.

McCain Foods Limited, a privately-owned company based in Canada is an international leader in the frozen food industry and the world’s largest manufacturer of frozen potato specialities such as McCain French Fries, McCain Smiles etc, employing approximately 18,000 people and operating 50 production facilities on six continents. The company also makes pizzas, appetizers and oven-ready meals. McCain generates annual sales in excess of CDN $6 billion. The company’s products can be found in restaurants and retail stores in over 160 countries around the world.

McCain Foods India is a subsidiary of McCain Foods Canada. Since 1998, McCain has been engaged in agriculture R&D and in development of frozen food market in India and subcontinent countries. McCain products are used by leading fast food chains, hotels, restaurants, catering companies and are popular for in-home consumption.

Source: fnbnews.comthehindubusinessline.compotatopro.commccainindia.com

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