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Customer-Centric Evolution: How Market Trends Shape Growth Strategies for Brands

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SnackTeam
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Market Trends

In the ever-evolving landscape of business, one principle has emerged as a guiding force for brands seeking sustainable growth: customer-centricity. As market trends continue to shift, brands must adapt and reshape their strategies to meet the evolving demands and expectations of their customers. This customer-centric evolution is not merely a trend; it is a fundamental shift in how businesses operate and thrive in a competitive environment.

The Power of Customer-Centricity

Customer-centricity places the customer at the heart of business operations. It goes beyond simply providing a product or service; it’s about understanding and fulfilling the needs of the customer in a way that fosters long-term loyalty. As market trends fluctuate, brands that prioritize customer-centricity are better positioned to navigate the changes successfully.

Historically, businesses focused on product-centric approaches, emphasizing the features and qualities of their offerings. However, the modern consumer is discerning and demands more than just a transaction. They seek an experience that resonates with their values, preferences, and aspirations. Customer-centric brands recognize this shift and leverage it to create meaningful connections that extend beyond the point of purchase.

The Impact of Shifting Market Trends

Market trends play a pivotal role in shaping the customer landscape. From the rise of e-commerce to the growing importance of sustainability, businesses must stay attuned to these shifts to remain relevant. Brands that proactively incorporate these trends into their growth strategies are better poised for success.

1. E-Commerce and Omnichannel Experiences:

The digital era has ushered in a new era of shopping, and e-commerce is no longer a novelty but a necessity. Brands that recognize the significance of a seamless online presence and omnichannel experiences gain a competitive edge. From intuitive websites to personalized online interactions, businesses are investing in technology to enhance the overall customer journey.

2. Sustainability and Social Responsibility:

In an era marked by environmental consciousness, consumers are increasingly drawn to brands that embrace sustainability and social responsibility. Forward-thinking businesses integrate eco-friendly practices into their supply chains, reduce their carbon footprint, and engage in initiatives that contribute to social causes. This not only attracts ethically-minded consumers but also aligns with broader societal expectations.

3. Data-Driven Personalization:

The age of big data has empowered brands with unprecedented insights into customer behavior. Utilizing this data, businesses can personalize their offerings, marketing messages, and customer interactions. From targeted advertising to tailored product recommendations, data-driven personalization enhances the customer experience and fosters a sense of individuality.

Strategies for Customer-Centric Evolution

To thrive in this dynamic environment, brands must adopt growth strategies that prioritize customer-centricity while aligning with prevailing market trends.

1. Investing in Technology:

Technology is a catalyst for customer-centric evolution. Brands are investing in advanced analytics, artificial intelligence, and machine learning to gain deeper insights into customer behavior. This enables the creation of personalized experiences, efficient customer service, and data-driven decision-making.

2. Building Emotional Connections:

In a world inundated with choices, emotional connections set brands apart. By understanding the emotional needs of their customers, businesses can create campaigns and experiences that resonate on a deeper level. This emotional bond fosters loyalty and transforms customers into brand advocates.

3. Agile Adaptation to Trends:

The ability to adapt swiftly to emerging trends is a hallmark of successful customer-centric brands. Whether it’s embracing a new communication channel or integrating sustainable practices, businesses that exhibit agility in response to market shifts position themselves as industry leaders.

4. Prioritizing Employee Engagement:

A customer-centric approach starts from within. Engaged and motivated employees are more likely to deliver exceptional customer experiences. Brands that prioritize employee satisfaction and well-being create a positive work culture that translates into better customer interactions.

5. Transparency and Authenticity:

Building trust is paramount in a customer-centric model. Brands that prioritize transparency and authenticity in their communications and actions establish a foundation of trust with their customers. This trust, once earned, becomes a valuable asset that contributes to long-term success.

The Road Ahead: Continuous Evolution

In the fast-paced world of business, customer-centric evolution is not a one-time initiative but an ongoing process. Brands must continually reassess market trends, consumer expectations, and technological advancements to stay ahead of the curve. Those that remain attuned to the evolving landscape and proactively adapt their strategies will not only survive but thrive in the ever-changing marketplace.

As we look to the future, the convergence of technology, sustainability, and personalized experiences will shape the trajectory of customer-centric evolution. Brands that embrace this paradigm shift and prioritize the needs and desires of their customers will forge a path to sustained growth and success in the years to come. The journey toward customer-centricity is not just a business strategy; it is a commitment to understanding, anticipating, and exceeding the expectations of the modern consumer.

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Data-Driven Growth: Using Analytics to Evaluate Sales Team Effectiveness

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SnackTeam
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Analytics

In the dynamic landscape of modern business, where data reigns supreme, companies are increasingly turning to analytics to gain a competitive edge. Among the myriad applications of data analytics, one stands out as a game-changer: evaluating sales team effectiveness. In this era of relentless competition and rapidly evolving markets, businesses that harness the power of data to scrutinize and optimize their sales operations are positioned for sustainable growth. Here is how businesses can leverage analytics to unlock new levels of performance and profitability.

The Evolution of Sales Performance Evaluation

Traditionally, sales performance evaluations relied on subjective assessments and basic key performance indicators (KPIs) such as revenue generated, deal closure rates, and customer satisfaction scores. While these metrics provide a surface-level understanding of sales performance, they often fall short in delivering comprehensive insights into the underlying dynamics of a sales team.

Enter data analytics – a paradigm shift that has revolutionized the way businesses evaluate sales team effectiveness. By tapping into the wealth of data generated across the sales process, from lead generation to deal closure, companies can now gain a granular understanding of every facet of their sales operations.

Harnessing Data for Informed Decision-Making

One of the key advantages of using analytics in evaluating sales teams is the ability to make informed, data-driven decisions. Rather than relying on gut feelings or anecdotal evidence, businesses can now base their strategies on a wealth of quantitative insights. This shift from intuition to data-driven decision-making is particularly evident in identifying high-performing sales strategies, understanding customer behaviors, and optimizing resource allocation.

Advanced analytics tools can analyze historical sales data to identify patterns and trends, helping businesses understand which sales tactics are most effective in different scenarios. By pinpointing the strategies that yield the best results, companies can refine their sales processes and equip their teams with the knowledge and tools needed to replicate success.

Real-Time Performance Monitoring

In the fast-paced world of sales, timely information is critical. Analytics allows businesses to monitor sales team performance in real time, enabling quick adjustments to strategies and tactics. Real-time insights empower sales managers to identify and address issues as they arise, whether it’s a sudden drop in conversion rates, a bottleneck in the sales funnel, or a need for additional training or resources.

For instance, if analytics reveal that a particular sales representative is consistently outperforming others in a specific market segment, managers can swiftly reallocate resources or replicate successful strategies across the team. This agility in response is a significant advantage in an environment where market conditions can change rapidly.

Predictive Analytics: The Crystal Ball for Sales Teams

Predictive analytics takes sales performance evaluation to the next level by forecasting future outcomes based on historical data and current trends. By leveraging machine learning algorithms, businesses can identify potential opportunities and risks, allowing them to proactively adjust their strategies.

For example, predictive analytics can help forecast demand for a particular product or service, allowing sales teams to allocate resources accordingly. It can also identify leads that are more likely to convert, enabling sales representatives to prioritize their efforts and focus on the most promising opportunities. By foreseeing challenges and opportunities, businesses can stay ahead of the competition and position themselves for sustained growth.

Balancing Quantity and Quality with Analytics

While traditional metrics often focus on the quantity of sales, analytics enables businesses to delve deeper into the quality of those sales. Metrics such as customer lifetime value, conversion rates, and customer satisfaction scores provide a more nuanced understanding of the overall impact of sales efforts.

For instance, a sales team may achieve high revenue figures, but if customer satisfaction is low and churn rates are high, it indicates a potential problem in the sales approach or product fit. Analytics allows businesses to strike the right balance between quantity and quality, ensuring that sales efforts not only drive revenue but also contribute to long-term customer relationships and brand loyalty.

Overcoming Challenges and Building a Data-Driven Culture

While the benefits of using analytics for evaluating sales team effectiveness are clear, implementing a data-driven approach comes with its challenges. Many businesses face hurdles such as data silos, lack of skilled personnel, and resistance to change. Overcoming these challenges requires a concerted effort to build a data-driven culture within the organization.

This cultural shift involves investing in training programs to enhance data literacy across teams, breaking down silos to ensure seamless data flow, and fostering a mindset that values data as a strategic asset. As businesses navigate this transformation, they position themselves not only to evaluate sales team effectiveness but to leverage data for innovation and continuous improvement across the entire organization.

Final Thoughts:

In the age of data-driven growth, businesses that harness the power of analytics to evaluate sales team effectiveness are setting the stage for unparalleled success. The ability to make informed decisions based on real-time insights, predict future trends, and balance quantity with quality gives companies a competitive advantage in a rapidly changing marketplace.

As businesses continue to evolve and adapt to the demands of the digital era, integrating data analytics into sales processes becomes not just a strategy but a necessity. Those that embrace this transformation, overcome challenges, and foster a data-driven culture will not only evaluate sales team effectiveness more effectively but will also pave the way for sustained growth and success in the dynamic landscape of the 21st century.

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From Pipeline to Profit: Sales Indicators That Attract Investor Interest

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SnackTeam
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Sales Indicators

In the dynamic landscape of business, attracting investor interest is often the lifeblood of growth. For companies looking to secure funding or scale their operations, the journey from pipeline to profit is a critical one. Investors scrutinize various aspects of a business before committing capital, and sales indicators play a pivotal role in influencing their decisions. Here are the key sales metrics that not only demonstrate a company’s financial health but also act as beacons for investors seeking promising opportunities.

1. Revenue Growth: The North Star of Investor Appeal

Perhaps the most fundamental indicator of a company’s success is its revenue growth. Investors are inherently drawn to businesses that show consistent and impressive revenue expansion. A rapidly growing top line not only signals market demand for a product or service but also suggests effective execution of sales and marketing strategies.

For investors, revenue growth is like a compass pointing towards a company’s potential profitability. A business that consistently outpaces industry averages in revenue growth is likely to attract more attention and, consequently, more investment. Investors look beyond the absolute figures, focusing on the trajectory and sustainability of the growth, ensuring that it’s not a fleeting spike but a sustainable upward trend.

2. Customer Acquisition Cost (CAC) and Lifetime Value (LTV): Striking the Right Balance

Investors are not only interested in how much revenue a company generates but also in the efficiency of its sales and marketing efforts. The Customer Acquisition Cost (CAC) to Lifetime Value (LTV) ratio is a critical metric that provides insights into a company’s customer acquisition strategy.

A lower CAC implies that the company can acquire customers at a lower cost, while a higher LTV indicates that customers are generating more revenue over their lifetime. Investors seek a healthy balance between these two figures, as it signifies a scalable and profitable customer acquisition model. A company with a favorable CAC to LTV ratio is not only efficient in acquiring customers but also capable of maximizing the revenue potential of each customer relationship.

3. Sales Velocity: The Need for Speed in Revenue Generation

Sales velocity measures the speed at which a company turns its leads into paying customers. Investors are attracted to businesses with high sales velocity because it indicates operational efficiency and effectiveness in converting potential customers into revenue. The formula for sales velocity typically involves metrics such as the number of opportunities, average deal size, and the win rate.

Investors understand that time is money, and a swift sales process can significantly impact a company’s financial performance. High sales velocity not only accelerates revenue generation but also allows for quicker adaptation to market changes and opportunities.

4. Customer Churn: The Silent Killer of Growth

While acquiring new customers is essential, retaining existing ones is equally crucial. High customer churn rates can signal underlying issues in product satisfaction, customer service, or market competition. Investors carefully evaluate a company’s ability to retain customers over time, as it directly impacts the sustainability of its revenue streams.

A low customer churn rate indicates that a company has successfully built a loyal customer base, reducing the need for continuous aggressive customer acquisition efforts. Investors value businesses that not only attract new customers but also prioritize customer satisfaction and retention, ensuring a stable foundation for future growth.

5. Sales Forecast Accuracy: Building Investor Confidence

Investors appreciate companies that can accurately predict their future performance. Sales forecast accuracy is a key metric that reflects a company’s ability to understand market dynamics, customer behavior, and internal operational factors. Consistently meeting or exceeding sales forecasts builds investor confidence and demonstrates management’s capability to navigate challenges and capitalize on opportunities.

Accurate sales forecasting requires a combination of data-driven analysis, market intelligence, and a deep understanding of customer needs. Companies that can consistently deliver on their sales projections are seen as more reliable and less risky investments, making them more appealing to investors.

6. Net Promoter Score (NPS): A Window into Customer Satisfaction

While not a traditional sales metric, the Net Promoter Score (NPS) is a valuable indicator of customer satisfaction and loyalty. Investors recognize that a satisfied customer is more likely to become a repeat customer and a brand advocate, driving organic growth through positive word-of-mouth.

A high NPS suggests that a company has not only effectively sold its product or service but has also created a positive customer experience. Investors understand that a strong brand reputation can contribute to long-term revenue growth and market sustainability.

7. Sales Funnel Metrics: Navigating the Path to Conversion

A company’s sales funnel is a visual representation of the customer journey from initial awareness to final purchase. Investors delve into the various stages of the sales funnel, examining metrics such as lead conversion rates, opportunity-to-close ratios, and the average time a lead spends in the funnel.

Understanding how efficiently a company moves prospects through the sales process is crucial for investors. A well-optimized sales funnel not only accelerates the conversion of leads into customers but also provides insights into potential bottlenecks and areas for improvement. Investors seek businesses with a keen understanding of their sales funnel dynamics, as it reflects operational excellence and the ability to capitalize on market demand.

8. Market Share and Competitive Positioning: Beyond the Balance Sheet

While sales metrics are paramount, investors also consider a company’s position in the market. Market share and competitive positioning provide context to sales performance by indicating how well a company is faring against its peers. Investors look for businesses that not only demonstrate revenue growth but also gain ground in terms of market share.

A growing market share suggests that a company is successfully capturing a larger portion of its target market, often at the expense of competitors. Investors analyze the competitive landscape to gauge the sustainability of a company’s growth and its ability to navigate industry dynamics. A strong market position can also serve as a barrier to new entrants, providing a level of security for investors.

Final Thoughts:

Navigating the path from pipeline to profit is both an art and a science, and sales indicators serve as the compass guiding businesses through this journey. For investors, these metrics are not just numbers on a spreadsheet; they represent the pulse of a company’s viability and potential for long-term success. From revenue growth to customer satisfaction, each indicator contributes to the narrative that businesses present to investors.

Mastering these sales metrics requires a holistic approach that combines data-driven analysis, strategic planning, and a customer-centric mindset. Companies that can showcase not only impressive financial performance but also a deep understanding of their market, customers, and industry trends are better positioned to attract investor interest.

In the competitive world of business, where opportunities and challenges abound, the ability to translate a strong sales performance into investor appeal can be the difference between stagnation and growth. As businesses strive to transform leads into loyal customers and pipelines into profits, they must recognize that the journey is not only about the destination but also about the story told along the way—a story that captivates investors and inspires confidence in the potential for future success.

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Flipkart-backed agritech startup Ninjacart gears up for expansion with major office lease

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SnackTeam
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Ninjacart
Ninjacart (Representative Image)

Ninjacart, an agritech startup, has secured a lease for 1,037 seats from the flexible office space provider Indiqube in Bengaluru as part of its efforts to expand and streamline its operations.

The emergence of this development coincides with the Flipkart-Walmart-backed company’s pursuit of profitability, while simultaneously exploring expansion into new sectors under the leadership of a new chief executive.

“As we embark on the journey of consolidating and expanding our office space within the flexible office environment, we embrace the collaborative spirit that fuels innovation. This strategic move not only enhances our operational efficiency but also fosters a dynamic ecosystem for creativity and growth,” said Sharath Loganathan, co-founder, Ninjacart.

Originally founded as a fresh produce supply chain entity in Bengaluru, Ninjacart has transformed into an online marketplace that connects farmers, traders, retailers, exporters, and importers through its trading platform.

Read More: Ninjacart aims for INR 2,500 Crore revenue in FY24 with expanding marketplace for farmers and traders

The company has conveyed its confidence in achieving growth ranging from two and a half to three times this year. Additionally, it announced plans to raise funds in the upcoming year to support and drive further expansion.

The agritech company revealed a gross merchandise value of approximately INR 1,600 crore, with 60% stemming from fulfillment business and 30% from new offerings.

Founded in 2015, Ninjacart has garnered $377 million (approximately INR 3,100 crore) in funding from investors including Tiger Global Management LLC, Accel, and Infosys co-founder Nandan Nilekani. In its most recent funding round, it successfully raised around $145 million (INR 1,200 crore) from Flipkart and Walmart, achieving a valuation of $815 million (INR 6,780 crore).

Flexible office spaces are increasingly being embraced by occupiers as they prioritize the establishment of operational efficiencies through a distributed work model.

“Flexible workspaces essentially provide businesses with the infrastructure and resources they need to work efficiently, without the burden of long-term leases and high setup costs,” said Arpit Mehrotra, managing director, office services, South India, Colliers India.

Colliers India, a firm specializing in professional real estate services, facilitated the transaction for Ninjacart’s premium office space.

“We have seen the demand for 1,000 plus seats at flex workspaces has become the new normal as compared to an average of 500 seats before the pandemic, led by unicorns, among other factors,” said Mehrotra.

Industry estimates indicate that the flexible office segment experienced a threefold increase in size by March of this year compared to the preceding three years. In the first half of 2023, the segment witnessed the leasing of 4.5 million square feet of office space in major cities, reflecting a 25% year-on-year growth. Colliers reports that this growth was particularly notable in Bengaluru, Pune, and the Delhi-National Capital Region.

Ninjacart has diversified its operations into emerging sectors like commerce and fintech, with the goal of strengthening the agricultural value chain for farmers, traders, retailers, importers, and exporters. The company currently employs around 1,300 individuals and operates in 70 locations, with ambitious plans to extend its presence to 200 cities and towns within the next year.

Read More: Flipkart-backed Ninjacart makes a bold entry into Brazil’s agribusiness sector

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KFC plans major expansion in CEE region and India with milestone restaurants

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SnackTeam
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KFC restaurants
(Representative Image)

KFC is gearing up for an expansion in the Central & Eastern Europe (CEE) region and India with plans to inaugurate significant milestone restaurants in Bucharest, Romania, and Haryana, India.

The upcoming restaurant in Bucharest will mark the brand’s 1,000th establishment in the Central and Eastern European (CEE) region. It features state-of-the-art kiosks, digitized drive-throughs, enhanced e-commerce platforms, and utilizes artificial intelligence informed by data.

KFC is striving to establish itself as the premier quick-service restaurant (QSR) brand in the Central and Eastern European (CEE) region. As a key element of its global expansion strategy, the company has set a goal to open 100 stores each year.

In India, KFC is gearing up to launch its 1,000th store, situated in the state of Haryana at DLF Cyber Hub in Gurgaon, before the end of 2023.

The Indian franchise partner, Devyani International Limited, with a partnership spanning over two decades with KFC’s parent company, Yum! Brands, will be inaugurating the 1,000th restaurant.

KFC Global CEO Sabir Sami said, “As one of the fastest-growing retail brands in the world, our growth is driven by our passion to lead with inclusivity, build with purpose, drive system sales and grow our brand in every market that we operate.

“I’m humbled by these achievements and see this as an opportunity to celebrate the incredible work of every business partner and team member as we continue to share the joy of our best-tasting fried chicken with more of the world.”

The restaurant brand has announced that it opens a new store somewhere in the world every 3.5 hours. By 2024, it aims to make an entry into its 150th country.

With a global presence, KFC presently runs over 29,000 restaurants, contributing to the creation of almost one million jobs worldwide.

KFC Global chief development officer Nivera Wallani said, “While we’re a global brand, we aim to meet the unique needs and expectations of our guests on a local level, ensuring that restaurants are designed to connect with the local community and feel paired with menus that resonate with the local culture and flavours.”

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New WHO report suggests certain ultra-processed foods can boost well-being!

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SnackTeam
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Junk food
(Representative Image)

A World Health Organization (WHO) report has determined that certain ultra-processed foods (UPFs) can be beneficial for individuals’ well-being.

The Consumption of Ultra-Processed Foods and Risk of Multimorbidity of Cancer and Cardiometabolic Diseases report, produced by the WHO’s International Agency for Research on Cancer and the University of Vienna, has suggested that processed foods such as bread and cereal reduce the risk of multiple long-term conditions – multimorbidity – due to their fibre content.

UPFs have garnered extensive criticism due to their associations with obesity, heightening the likelihood of heart disease and diabetes.

In a recent statement, Filippa Debentencourt-Juul, a post-doctoral fellow appointed by the provost at New York University, shared findings from various studies on UPFs. She revealed, “I discovered a notable correlation between the proportion of processed foods in the diet and the prevalence of overweight and obesity, abdominal obesity, as well as elevated BMI and waist circumference.”

The WHO study, which involved over 266,000 participants across seven European countries, highlighted that consistent consumption of items like sausages and sugary drinks increases the likelihood of weight gain. However, it emphasized the significance of avoiding a blanket condemnation of all ultra-processed foods.

It said, “Among UPF sub-groups, associations [with health issues] were most notable for animal-based products and artificially and sugar-sweetened beverages. Other sub-groups, such as ultra-processed breads and cereals and plant-based alternatives, were not associated with risk.”

Nevertheless, the authors were cautious in emphasizing the overall harm that UPFs can inflict.

“In this multinational European prospective cohort study, we found that higher consumption of UPFs was associated with a higher risk of multimorbidity of cancer and cardiometabolic diseases,” the report said.

Highlighting the scale of UPF consumption, the report said, “The availability and consumption of ultra-processed foods has increased worldwide and represents nowadays 50–60% of the daily energy intake in some high-income countries and middle-income and low-income countries are following suit.

“Fresh or minimally processed foods are being increasingly replaced by higher proportions of UPFs in the diet, raising concerns about their long-term health effects.”

The report defines UPFs as products manufactured industrially, consisting of deconstructed and modified food components reassembled with various additives. Typically, UPFs include mass-produced packaged breakfast cereals, biscuits, reconstituted meat products, instant noodles, as well as soft and/or sweetened carbonated drinks.

The research findings were released in the medical journal, The Lancet.

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E20 Investment acquires majority stake in Turkish seafood giant Lucky Fish

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SnackTeam
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E20 Investment

United Arab Emirates-based E20 Investment has recently obtained a majority stake in the Turkish fish processing enterprise, Lucky Fish.

Mediterra Capital Private Equity, a Turkish firm, formerly held the majority ownership of the sea bream and bass processing company.

Established in 1986, Lucky Fish has a workforce of approximately 450 individuals. The majority of its food sales, roughly 97%, come from exports.

E20 expressed anticipation in utilizing its global expertise and resources to assist Lucky Fish in expanding its market reach and strengthening its position.

Sultan Al Jaberi, group CEO of E20, said, “We are thrilled to announce our investment into Lucky Fish, the leading value-added exporter of sea bass and sea bream from Turkey to Europe. This strategic investment is in line with our investment thesis of investing in sustainable companies operating in the agribusiness sector.

“Lucky Fish’s dedication to quality and responsible practices mirrors our own values, making this partnership an exciting and promising venture.”

Lucky Fish CEO İsmail Aksoy said, “This strategic investment by E20 Investment marks an important milestone in our growth story. With the support of E20 Investment, we are confident that we will be able to grow globally by adding new countries to our target markets as well as increasing our capacity.

“E20 Investment has given great importance to our capability of delivering premium seafood products to consumers in the developed markets of Europe. I am sure that E20 Investment’s sector expertise and resources will provide us with new opportunities.”

The headquarters of the fish company is located in Izmir, while its processing and fish feed production facilities are situated in Aydin and Mugla.

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Danone teams up with Else Nutrition to expand plant-based infant formula in Europe

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SnackTeam
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Else Nutrition

Danone, the renowned French dairy company, has entered into a collaborative agreement with Else Nutrition, a Canadian provider of plant-based infant formula products.

Vancouver-headquartered Else has announced in a statement that, following Danone’s completion of extensive due diligence, the two companies have signed a letter of intent outlining a “multi-stage collaboration, subject to the finalization of certain commercial terms.”

In the initial phase of the project, the Canadian company specified that the collaboration involves entering into a license agreement. This agreement entails the inclusion of Else’s products in Danone’s specialized nutrition portfolio, with manufacturing, marketing, and commercialization responsibilities undertaken by the prominent French dairy company.

According to a spokesperson from Else, “Danone will produce the products it will commercialise in Europe initially but there is potential for expansion into other markets.”

Established in Israel in 2018 by industry veterans in the infant-formula sector, Else made its debut in the European market with a launch in the United Kingdom earlier this month.

CEO Hamutal Yitzhak said, “the UK represents our first entry into the lucrative European market and we expect to enter additional European countries in the near term.”

He added, “Moreover, Europe is an ideal market for our products given consumer preferences and trends towards healthy and nutritious plant-based options, especially for their children.”

Else said that after the first stage of the project, the two companies will “negotiate other opportunities beyond product commercialisation”.

The spokesperson said this means “other business or scientific mutual activities besides licensing the toddler product in Europe.”

The company stressed this “is not an acquisition of Else at this point”, adding “it’s a collaboration agreement for the Europe market, with an agreement to discuss other activities and geographies that may be negotiated in the future”.

Else, which uses a co-manufacturer, said the deal does not at present impact its business in North America or other countries outside of Europe.

It said the parties anticipate signing the definitive agreement by the end of Q1, 2024.

Danone, which owns plant-based alt-dairy brands including Alpro and Silk, has increased its exposure to the category in recent years through acquisitions and investment.

In 2021, it acquired US plant-based products provider Earth Island, which specialises in faux-cheese and mayonnaise.

And in April this year it invested in Israel-based animal-free dairy start-up Imagindairy.

Danone refrained from providing comments on the collaboration agreement with Else upon contact.

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Pulmuone enhances production efficiency with expansion of California noodle facility

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SnackTeam
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Pulmuone

On Wednesday, Pulmuone, a South Korean food company, revealed its expansion of the fresh noodle production facility in Gilroy, California, USA.

With the plant expansion, the company has increased its annual production of Asian noodles to 24 million units (190 grams per pack). This strategic move is a direct response to the growing local demand for these popular products. Notably, alongside tofu, Asian noodles stand out as the cornerstone of Pulmuone’s business in the US.

The Asian noodle constitutes a fundamental product, contributing to approximately one-third of Pulmuone’s overall sales in the US. Upon the company’s entry into the US market in 2015, the landscape was predominantly occupied by low-end dried noodles. Pulmuone introduced high-quality refrigerated noodles, known for their convenience in preparation. Over the years, the company has experienced remarkable growth, with its annual sales of Asian noodles in the US surging 6.3 times from 2017 to the previous year.

Previously, Pulmuone relied on exporting semi-finished products, including fresh noodles, with Pulmuone Foods USA responsible for their assembly and sale. The recent establishment of the Gilroy facility has transformed this dynamic, enabling local production. This shift is anticipated to streamline operations, reduce logistics expenses, and contribute to increased profitability.

The Gilroy facility exemplifies modern efficiency, featuring complete automation from the mixing stage to packaging. Additionally, it incorporates state-of-the-art temperature control systems that adhere strictly to the rigorous guidelines set by the US Food and Drug Administration (FDA).

Having kicked off its expanded operations with Teriyaki stir-fried udon last month, Pulmuone Foods USA intends to extend its production to encompass five varieties of fresh noodles, including Tonkotsu Ramen.

Pulmuone’s range of Asian noodle products is available in over 300 Costco stores across the United States.

In November 2021, Pulmuone expanded its tofu production line at the Fullerton plant in Western America to 9,300 square feet. This expansion doubled its maximum monthly production capacity and resulted in a 38% increase in tofu production.

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Quench acquires Neighbors Coffee, expanding premium point-of-use offerings

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SnackTeam
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Neighbors Coffee

Quench, a company owned by Culligan, has announced the acquisition of Neighbors Coffee.

Established in 1985, Neighbors Coffee operates as an office coffee supplier and service provider located in West Park, Florida.

The acquisition highlights the growing role of coffee in the company’s portfolio and supports its “goal of providing commercial customers with the broadest array of premium point-of-use offerings,” said Ryan Hartley, VP of corporate development for Quench.

David Santana, owner of Neighbors Coffee, added, “Quench is the benchmark when it comes to customer service. When the time came to pass our legacy on, Quench was the natural choice.”

“With its unparalleled product line that also includes water coolers, ice machines and sparkling water dispensers, Quench is uniquely equipped to support the many breakroom needs of our customers.”

The details of the transaction were not made public.

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