Launches range of ready to cook masalas.
MTR Foods Pvt Ltd has recently acquired Pune based Rasoi Magic Foods Pvt Ltd for an undisclosed amount. Immediately after the acquisition Rasoi Magic launched popular restaurant dishes such as Paneer Butter Masala, Paneer Makhanwala and 19 other variants. They have launched a special range of products for Gujarat and Maharashtra with no Onion and Garlic presence.
Commenting on the same, Sanjay Sharma, CEO, MTR Foods Pvt. Ltd said, ”Rasoi Magic has strong brand equity in West India and our ambition is to build on this and extend it nationally”. Rasoi Magic has been the market leader in the west with 40 per cent market share and the company is planning to extend their market space in rest of the India. Plans include to spread the products presence in 25 towns across India. The Packaged food industry is worth Rs 8,000 crore in which MTR has been growing with over 25 per cent for the past three quarters.
Sharma also announced that their marketing and advertising expenses will shoot up from the present eight to 16 per cent this year. The products will be widely visible on Television very soon. Apart from TVCs company is also focusing on various demonstration centric BTL activities and online on various recipe websites, for promotion.