Bengaluru Hotels Association to draw up detailed plan to enhance security system

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March 4, 2024

After a low-intensity bomb blast at a popular city eatery left 10 people injured, the Bruhath Bangalore Hotels Association announced on Saturday its commitment to devising a plan to enhance security systems at all hotels across the city. They also intend to discuss preventive measures to ensure the safety of public places.

On Friday afternoon, the Rameshwaram Cafe witnessed a bomb blast at its Brookefield branch following which security has been tightened across the State and its capital city. According to the Association, it will be convening a meeting with police officials, hotels owners and other stakeholders to discuss the Standard Operating Procedures (SOPs) to maintain vigil in hotels.

They would also discuss the dos and don’ts in hotels, review the SOPs and step up security measures to avert any such untoward incidents in the near future. It will also discuss having in place an enhanced security system in place and work towards having a zero tolerance approach against movement of any “suspicious individuals” and those “loitering” in the hotels henceforth.

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President of Bruhath Bangalore Hotels Association, PC Rao said that once the police investigation is concluded, they would soon call up a meeting with the police department, cafe and hotel owners as well as other stakeholders to discuss and chalk out a detailed plan to enhance the security system at the eateries so as to avoid such unfortunate incident in future.

“We are working on ways to enhance the security system and ensure safety of people at public places but for now we are waiting for the formal report from the police department on how it (blast) happened. Once the investigation is over, we will take up the matter and chalk a detailed plan. Our discussions are on and we are definitely calling for a meeting next week with police officials and other members in the hospitality business,” he said.

Emphasizing that such incidents have occurred in public places like hotels, railway stations, bus stands, he said, such people can target any public place and so we as citizens of Karnataka and Bengaluru should be careful and do the needful as a responsible citizen to keep our city safe and secure. “We need to know and analyse what actually happened and how it happened..and take preventive measures accordingly. Instead of putting blame on police or the government, It’s our responsibility as well as our duty as a citizen to secure our places,” he said.

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Kadamba Whisky wins prestigious title of ‘Best Indian Single-Malt’ at Icons of Whisky awards

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March 4, 2024

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Kadamba, a renowned single-malt whisky hailing from Goa, has accomplished an outstanding feat by claiming the title of “Best Indian Single-Malt Whisky” at the Icons of Whisky awards, presented by Whisky Magazine in the UK. This remarkable achievement on the international stage is a significant milestone for Kadamba Whisky, solidifying its standing among esteemed global whisky brands such as Suntory, Red Breast, JP Wiser, and Johnny Walker.

Kadamba’s Signature Expression, the winning whisky, undergoes a double-distillation and is aged in a blend of bourbon, sherry, and virgin American oak casks. This unique aging process results in a complex and full-bodied flavor profile that sets Kadamba apart.

Renowned as one of the globe’s most esteemed whisky contests, The World Whiskies Awards conducts blind tastings of around 6,000 whiskies hailing from the top 60 distilleries across the globe. Kadamba’s triumph highlights its outstanding quality and meticulous craftsmanship.

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Crafted in limited batches to preserve its exclusivity and outstanding quality, Kadamba’s vintage single malt whisky commands a price of INR 2,200 per 750ml bottle. Encased in a stunning 3D cut-glass effect decanter, it has become a sought-after collector’s piece. Its distribution is restricted to exclusive wine outlets and upscale bars in Goa.

The Cheers Group is a globally recognized conglomerate in the beverage alcohol industry, renowned for its inventive range spanning Wine, Spirits, and Ready-to-Drink (RTD) beverages. Among its standout offerings are Indian Single Malts and Scotch whiskies, serving as the group’s flagship products.

Imperial Distillers and Vintners Pvt. Ltd., a division of the Cheers Group situated in Goa, features a cutting-edge production facility dedicated to crafting exquisite malt spirits. This distillery houses a modern plant equipped with top-of-the-line copper stills employing the latest design and technology. With a capacity to produce up to one million liters of premium Indian malt spirit annually, it stands as a testament to excellence in distillation.

The acknowledgment of Kadamba single-malt whisky at the Icons of Whisky awards underscores its outstanding quality and craftsmanship. This accolade cements its status as a top-tier whisky, showcasing India’s rising prominence in the global whisky scene.

Continue Exploring: Indigenous spirits shine: India’s liquor exports soar, set to break $1 Billion barrier

Britannia eyes diversification into chocolates, salty snacks, and fresh dairy through joint ventures, unveils aggressive growth strategy

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March 4, 2024

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Britannia Industries, India’s renowned biscuit maker, is currently exploring potential joint ventures to enter high-margin categories such as chocolates, fresh dairy, and salty snacks, as revealed by Varun Berry, the company’s vice-chairman and managing director.

The maker of Marie Gold and Good Day biscuit brands has enlisted the global consulting firm Bain & Co to prepare an aggressive ‘go-to-market’ project by leveraging data-driven strategies, as informed by Berry.

The Nusli Wadia-owned company is looking to map its target market segments closely for mounting an effective challenge to existing players in the new categories. It will also hire talent to build the sales team, Berry said.

“While our current focus is to pause and consolidate, we remain vigilant for opportunities to fuel portfolio growth,” said Berry, credited with Britannia’s transformation from a biscuit-centric entity to one with a broader product range. He assumed the role of vice-chairman in 2022, after Rajneet Kohli of Domino’s Restaurants was appointed as CEO.

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“Chocolates is a big market but difficult to penetrate and therefore, it will only be through a JV if and when it is possible,” he said. “We are present in multiple categories and want to get them larger before going to others. The go-to-market strategy with the help of Bain will help identify blank spaces more precisely to ensure improved distribution of its products across markets,” he added.

Meanwhile, dismissing market rumours of a stake sale in Britannia to large players or private equity firms, Berry said, “There is no truth to this and absolutely no chance of that happening.”

While aspiring to evolve into a comprehensive food company, Britannia’s current focus lies in expanding its existing categories, including biscuits, cakes, rusks, croissants, energy bars, protein bars, cheese, milkshakes, and yogurt.

“Pause and consolidate is all about ensuring better focus. We are currently going to do that better with scale; about scaling up, for example, cheese is now a INR 100 crore business,” he said.

Britannia’s leading biscuit brands encompass Marie Gold, Tiger, NutriChoice, 50-50, Treat, Pure Magic, Milk Bikis, Bourbon, Nice Time, and Little Hearts.

Continue Exploring: Britannia’s Q3 FY24 net profit slides 40% to INR 932.40 Crore

Samara Capital, consortium of investors pool $150M for new packaged foods platform

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March 4, 2024

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Samara Capital, a private equity firm, in collaboration with a group of investors including Convergent Finance, is setting up a roll-up platform for packaged foods with a dedicated investment of $150 million. According to insiders familiar with the initiative, the strategy involves pursuing mergers and acquisitions in the mid-sized packaged foods sector through bolt-on or tuck-in acquisitions, as well as fostering organic growth. Additionally, the firm intends to secure licensing agreements to introduce international food brands to the Indian market.

The platform will be similar to Sapphire Foods, a venture previously established by Samara Capital for food services. Sapphire Foods currently manages KFC and Pizza Hut, two quick-service restaurant (QSR) chains under Yum! Brands, within the Indian market.

The Samara Capital-backed platform, to be called Agro Tech Foods, has begun with Sundrop edible oil, peanut butter and ACT II popcorn as its first brands.

Last week, Samara and Convergent Finance announced their agreement to collectively acquire a 51.8% stake in the listed food manufacturer Agro Tech Foods (ATFL) from its Chicago-based parent company, Conagra Brands Inc, for INR 650 crore.

Convergent Finance LLP and Samara Capital to acquire 51.8% stake in Agro Tech Foods for $78 Million

“Samara sees Agro Tech as a base on which to build growth in packaged foods, with more mid-sized brands housed under the Agro Tech Foods umbrella. The platform will explore M&As in adjacent categories which are synergistic to the core business of ATFL,” one of the executives said.

The platform will prioritize organic growth in scalable western-style convenience food categories and majority investments, with a focus on areas like capex and distribution. Conversely, less emphasis will be placed on categories such as chocolates and breakfast cereals, which are already saturated.

“The platform will also look at licensing more global brands into ATFL and is already in conversation with some global brands that are looking to enter India,” according to the executives mentioned above.

Samara Capital declined to comment on specific plans for its new platform.

“We intend to create a large and unique branded food platform in the country with this acquisition,” Manish Mehta, managing director and co-chief investment officer at Samara Capital, said in a statement while announcing the deal with Conagra Brands last week.

Agro Tech Foods currently boasts a distribution network spanning 4.6 lakh outlets and operates six plants throughout India. Nonetheless, the company has experienced a decline in performance in its core categories of popcorn, spreads, and edible oils in recent years, which has deterred investors. Conagra attempted to sell the company two years ago, conducting a thorough process through an investment bank, but failed to find any buyers due to stagnant growth and declining margins.

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Snitch debuts in Surat with the launch of its stylish megastore at VR Mall

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March 2, 2024

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Snitch, the men’s fashion brand, has made its mark in Surat, one of India’s fastest-growing cities, with the grand inauguration of its premier megastore at VR Mall. Located at the heart of the city, VR Mall stands as a quintessential community-oriented lifestyle destination. The newly launched Snitch outlet at VR Mall is set to redefine men’s fashion, offering an extensive range of apparel tailored to meet the diverse preferences of the local clientele. This significant expansion marks Snitch’s commitment to enhancing the shopping experience for residents and visitors alike in Surat.

Siddharth Dungarwal, Founder of Snitch said, “We are thrilled to introduce our latest retail store to the vibrant community of Surat. At Snitch, we are dedicated to providing unparalleled quality, innovation, and customer service, and our new store is a testament to that commitment. We believe Surat is one of the highly potential markets for the brand, and therefore, we have made our presence in the city with a commitment to serving customers with niche designs and quality.”

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Snitch is disrupting the men’s fast fashion market in India by offering products aligned with the latest trends across various categories such as apparel, fragrances, shoes, sunglasses, and accessories.

The latest store from the brand in Surat is poised to captivate fashion aficionados with its distinctive collection, meticulously planned layout, inventive displays, and immersive interactive encounters. Specializing in youthful, sporty, and casual attire, Snitch also presents a curated assortment of women’s wear and gender-neutral designs.

Having opened its first retail store in Bangalore last year to facilitate a seamless online-to-offline customer experience, Snitch has extensive plans over the next two years to launch more stores across prime locations in prominent Indian markets.

Continue Exploring: Fashion brand Snitch unveils ambitious growth plans: Eyes 7-8 offline stores in FY24 for deeper presence in Indian cities and towns

NCLT grants 45-day extension for Future Supply Chain Solutions’ corporate insolvency resolution

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March 2, 2024

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Lenders backing Kishore Biyani‘s Future Supply Chain Solutions have been granted a 45-day extension to finalize the corporate insolvency resolution process (CIRP), allowing them to review bids from Reliance Retail Ventures and Tatkal Loan India.

On Friday, the resolution professional of the BSE-listed Future Supply Chain Solutions, Rajan Rawat, sought an extension of 45 days, pleading that two prospective resolution applicants have submitted their bids and lenders have already requested them to increase the value of their plans.

“These plans are under active consideration and lenders are already in talks with the bidders to maximise the value,” the resolution professional argued through his lawyer.

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The division bench of judicial member Lakshmi Gurung and technical member Charanjeet Singh Gulati allowed the request in an oral order. The detailed order was awaited.

Initially, besides Reliance Retail Ventures and Tatkal Loan India, additional bidders including One City Infrastructure, Globe Ecologistics, Shanti G.D. Ispat & Power, Camions Logistics Solutions, and Sugna Metals had expressed interest in acquiring the company through the bankruptcy proceedings.

“The Insolvency and Bankruptcy Code provides for an overall time limit of 330 days for completion of CIRP,” said Himanshu Vidhani, partner at law firm Chandhiok & Mahajan. “However, the courts, in exceptional circumstances, have extended the time limit beyond 330 days also.”

On January 5th of last year, the company entered into the Corporate Insolvency Resolution Process (CIRP) after an application was filed by its operational creditor, DHL E-Commerce (India) Pvt Ltd, due to a default on dues amounting to approximately INR 7.26 crore. The total admitted liabilities of the company stand at INR 885 crore. Major creditors of the bankrupt company include Azim Premji Trust (INR 274 crore), DFC First Bank (INR 158 crore), JC Flowers Asset Reconstruction (INR 63 crore), and State Bank of India (INR 45 crore).

Continue Exploring: Liquidation looms for Future Retail as buyer search hits roadblocks

Celsius Holdings sees convenience channel as prime growth opportunity for energy drink brand

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March 2, 2024

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Celsius Holdings, a US-based energy drink brand, stated that it sees the most opportunity for growth in the convenience channel, highlighting “cold availability” as crucial for success.

PepsiCo-backed Celsius is planning to invest in branded, chilled cabinets in US retailers in 2024, building upon its acquisition of 10,000 units worth $10.5 million in 2023.

The comments came as the company posted record earnings for its full year 2023, with revenue up 102% to $1.32 billion and up 95% in the fourth quarter to $347 million, driven by sales in North America.

Speaking to investors following the company’s full-year results on 29 February, John Fieldly, chairman and CEO, said, “The biggest opportunity for us is in convenience.

“We’ve built this brand, going through the variety of channels, and the biggest opportunity is in convenience where you have got 56/57% of all sales.

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“So that’s where we anticipate the biggest resets to take place, in the coming resets.

“Right now, in the convenience channel, we are just at a 10(%) share. So, we’re really excited about the opportunities you have there. Versus if you look at the food category, we’re roughly around a 16(%) share within the energy category.”

Fieldly emphasized that the accessibility of chilled Celsius energy drinks was “crucial” to the brand’s expansion, highlighting that eye-level placements in stores were “essential.”

Celsius’s cooler assets experienced a significant surge, more than doubling from $9.9 million in 2022 to $21.9 million in 2023.

“It’s a big initiative we’ve had over the years trying to get more cold placement,” Fieldly said. “Cold availability is key to success in order to compete in the energy category, especially with the impulse purchases.

“That is the biggest opportunity for us. When we look at the convenience channel, that impulse purchase is key to the success of where we want to go and who we want to be in the category.

“We are investing in more coolers, we’re working on placing more coolers. We want to be right at checkout. Eye-level is critical.

“We’re again talking to a variety of retailers as well to gain additional checkout coolers. I think that’s a big opportunity.

“Most recently down in south Florida… and we’re looking to gain additional checkout coolers on the next reset.”

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Additionally, the company highlighted the promising prospects of e-commerce. In 2023, the brand emerged as the top-selling energy drink on Amazon, capturing a 19.7% share of the category, surpassing Monster Beverage (19.6%) and Red Bull (12.3%).

“We continue to drive further revenues through that [Amazon] channel. It is an omni-channel world and that’s something we really focus on here at Celsius,” Fieldly said.

The company also acknowledged plans for international expansion in 2024, but refrained from disclosing specific countries beyond its recent deals.

Last month, Celsius revealed its plans to penetrate the UK and Ireland markets through a distribution deal with Suntory Beverage & Food. Fieldly stated that the company anticipates sales to “begin gradually” in the region during the second quarter.

Furthermore, it made its debut in Canada through PepsiCo in mid-January, expressing optimism that the country “should be a great market.” This initiative represented the group’s initial “significant” international launch since PepsiCo acquired an 8.5% stake in Celsius in 2022.

Apeal World expands RTD lineup with Organic Lemon and Mint Sparkling ACV

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March 2, 2024

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RTD sparkling apple cider vinegar brand Apeal World has unveiled its third flavor variant: Organic Lemon and Mint.

The freshly launched RTD apple cider vinegar, infused with lemon and mint flavors, combines sparkling water, organic apple cider vinegar, organic extracts, and responsibly sourced spices. Each can offers a dose of potassium, calcium, and magnesium.

Linked to digestive wellness and immune support, apple cider vinegar is produced through fermenting apple sugars, resulting in acetic acid, the vinegar’s active component known for its potential to regulate blood sugar levels. Apeal World highlights that acetic acid also boasts antimicrobial qualities.

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Apeal World’s newest release marks its third flavor variation, succeeding its ginger-infused apple cider vinegar can and its ready-to-drink blend featuring clove, cinnamon, and vanilla.

Salka Backman, founder at Apeal World ACV, commented, “This delicious new flavour of apple cider vinegar combines lemon and mint and is yet another convenient, affordable and effective way to harness the benefits of ACV while on the go – anytime, anywhere”.

The new Apeal World Organic Apple Cider Vinegar with Lemon & Mint will be available from 20th March for an RRP of £1.99.

HCCB strengthens presence in Madhya Pradesh with INR 350 Crore investment

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March 2, 2024

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In a strategic maneuver emphasizing its dedication to Madhya Pradesh’s economic development, Hindustan Coca-Cola Beverages (HCCB), a leading FMCG company in India, has announced a INR 350 crore investment in the state. This announcement was made during a meeting between Madhya Pradesh’s Chief Minister, Dr. Mohan Yadav, and a senior delegation from HCCB, further solidifying the company’s total investment in the state to over INR 660 crore.

The capital infusion will drive the establishment of two state-of-the-art manufacturing lines at HCCB’s Rajgarh facility, specifically geared towards producing Affordable Small Sparkling Packs (ASSP) and Juice Tetra Packs. In addition to expanding manufacturing capacities, this initiative is set to significantly bolster the state’s economy. With a strong network of 149 distributors and 127,080 retailers, HCCB holds a crucial position in Madhya Pradesh’s retail landscape, distributing around 10 million cases across 29 districts.

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In reciprocation, the Madhya Pradesh Government has committed comprehensive support to expedite HCCB’s procurement of necessary permissions, approvals, and clearances, aligning with the state’s policies and regulations.

Himanshu Priyadarshi, Chief Public Affairs, Communications, and Sustainability Officer at HCCB, stated, “This investment is a significant step in our journey with Madhya Pradesh – a state that is poised for growth and development. We see this as an opportunity to deepen our commitment and align our growth with the state’s vision. This is more than an expansion of our business operations; it is about reinforcing our roots in a state that is key to our market strategy and a hub for innovation. We envisage this project as a catalyst not only for regional economic growth but also as a conduit for nurturing local talent, thereby contributing to the socio-economic progress of Madhya Pradesh.”

Having invested over INR 311 crore in Madhya Pradesh since 2000, including recent expansions in 2022 and 2023, HCCB has consistently demonstrated its commitment to enhancing production capabilities and supporting the local economy. This latest financial commitment not only cements its industrial presence in the state but also aligns with HCCB’s dedication to delivering innovative and high-quality products to consumers in Madhya Pradesh.

HCCB’s involvement in Madhya Pradesh extends beyond financial investments, encompassing Corporate Social Responsibility (CSR) endeavors. These endeavors prioritize water conservation, skill enhancement, and sustainable farming. Notably, they have benefited 1200 young individuals through sales and marketing training, empowered 1500 women with digital and financial literacy, and assisted over 100 farmers in embracing sustainable agricultural methods. Moreover, HCCB has facilitated the installation of water ATMs and Smartboards, enriching community resources.

Continue Exploring: HCCB and Y4D Foundation join forces to introduce Drinking Water ATM in Nalbari, Assam

Himmaleh Spirits revolutionizes Indian craft retail with the launch of Bandarful

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March 2, 2024

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Himmaleh Spirits, known for its innovative spirits, unveils Bandarful, an artisanal cold-brew coffee liqueur that transcends the ordinary in the Indian alcoholic beverage landscape. Building on the success of its pioneering product, Kumaon and I, India’s first Provincial Dry Gin, the distillery is trailblazing in breaking norms within the Indian alcoholic beverage industry.

Brewed for over 22 hours and meticulously blended in-house, Bandarful takes enthusiasts on a captivating journey across Kumaon’s grain fields, Chikmagalur’s coffee estates, and lush fruit trees. Crafted with hyperlocal rice, Himalayan spring water, and medium-dark single estate Arabica coffee beans from the foothills of the Western Ghats, each bottle becomes a homage to India’s diverse terroir.

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The story begins with the leader of the pack in Kumaon, where the spirited local Langur swings through the treetops, accompanied by its cousins, embarking on journeys to distant lands to carefully select the most robust coffee cherries. This charming primate, an inseparable part of Kumaoni culture, proudly takes credit for the inception of Bandarful, thereby establishing it as India’s premier branch-to-bottle spirit.

Ansh Khanna, Co-Founder of Himmaleh Spirits noted, “Bandarful captures the untamed essence of the country. In a world where coffee culture is becoming a serious affair, Bandarful stands out as an exquisite blend of high-quality coffee and spirit, appealing to both coffee aficionados and alco-bev connoisseurs. We’re breaking free from the ordinary, inviting you to swing into a world where life’s too short for boring drinks.”

Samarth Prasad, Co-Founder Himmaleh Spirits said, “Bandarful is our ode to endless joy and celebrations! Crafted with the choicest coffee beans, a dash of Himalayan flair, and a recipe tucked away amidst treetops, this artisanal coffee liqueur reflects Himmaleh’s commitment to introducing high-quality products using only the finest local ingredients sourced sustainably.”

Presented in a unique flint-clear glass bottle featuring a bar-top neck finish, Bandarful stands out boldly on any shelf, much like encountering a monkey amidst the dense jungle foliage. Whether savored neat over ice, mixed into cocktails, paired with desserts, or enjoyed as a post-dinner digestif, Bandarful guarantees a caffeine-infused adventure brimming with vibrant and evocative flavors.

Within the realm of Indian craft distillation, Himmaleh Spirits establishes a fresh benchmark with Bandarful, seamlessly merging tradition with innovation to deliver an unparalleled beverage journey tailored for discerning consumers.

Continue Exploring: Indigenous spirits shine: India’s liquor exports soar, set to break $1 Billion barrier

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