Himalya International Ltd, India’s leading frozen food company, has established a marketing joint venture with one of the largest global food and agribusiness conglomerates, J R Simplot Company. The JV has set-up a new company named - Himalya-Simplot Pvt Ltd with 50 per cent shares of both the companies, which will market all the products of Himalya International Ltd in Indian and entire South-East Asian markets. The JV headed by four directors, two from each company, aims at sales worth $50 million within the next three years.
Sanjiv Kakkar, Co-founder and Managing Director, Himalya International Ltd says, “The JV company will have its corporate office in NCR region and registered office in New Delhi. Himalya-Simplot Pvt Ltd will utilise production from Himalya Internationals new facilities in Gujarat besides products being manufactured at their Paonta Sahib facility. Himalya International has established a large food processing facility at Vad Nagar, Gujarat having daily production of 30 metric tons of mushrooms, 80 metric tons of french fries, 50 metric tons of onion rings, 40 metric tons of breaded appetisers, dairy plant to make mozzarela sticks and fruit yogurts and around half million cans of soups every day. New facility will employ over 1500 people and is a zero waste company.”
Scott Simplot, the Chairman and EC Member of J R Simplot Company, says, “We are delighted to be in India and looking for a great future together. Indian market has great potential and Simplot brings their expertise in marketing and agriculture to benefit consumers. India accounts for less than 1.5 percent of international food trade despite being one of the world’s major food producers, which indicates huge potential for both investors and exporters. With rapid increase in per capita income and purchasing power along with increased urbanisation and improved standards of living, India has a large untapped opportunity to cater to 1000 million domestic consumers. Our JV will capture these untapped opportunities.”
Man Mohan Malik, Founder, Chairman and CEO of Himalaya International, says, “We at Himalya are excited on this association with Simplot. The new JV company will market our products in the Indian and South-East Asian Markets and we look forward to a great response from the consumers. Himalya is a trusted brand and we firmly believe that working with Simplot will strengthen our position and increase market-share in the processed food sector. It’s our moment of glory to partner with the world leader and take Himalya to its rightful position under the sun”