Puratos India, the subsidiary of Belgium-based bakery, confectionery and chocolate products manufacturer, Puratos, plans to invest Rs 50 crore in the next three years, to scale up its operations in the country.
The company manufactures food ingredients and supplies it to core customers which include McDonalds, Cafe Coffee Day, Subway, Dunkin Donuts, KFC, Monginis, Walmart, Big Bazaar and few hotel chains, among others.
"The plans for India are very aggressive and we plan to invest Rs. 50 crore in the next three years, to build two new innovation centers and manufacturing locations in the country," Dhiren Kanwar, country head, Puratos India told ET.
The company plans to open one innovation centre in Delhi this year and another in Bangalore next year, apart from its already existing manufacturing and R&D centre located in Navi Mumbai.
"We have grown by 50% year on year and expect the company to be a Rs. 250 crore entity by 2020," said Kanwar.
Puratos India plans to open a new manufacturing plant early next year, which is expected to be five times larger than its current plant. "We would look at possibly four manufacturing locations in the Indian subcontinent by 2020," Kanwar said. Puratos India has launched around 75 products since its launch in 2008.
Established in 1919, Puratos has a turnover of 1.4 billion euro with manufacturing plants in 55 locations around the world.
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