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Parle Agro to set up plant, introduce new major product by 2022

Monday, 19 Oct 2020
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Parle Agro, the manufacturer of brands such as Frooti and Appy Fizz, is planning to set up a new plant and introduce a new major product in the next two years. 
 
The company is targeting to touch a turnover of Rs 10,000 crore by 2022. The company clocked a turnover of Rs 6,500 crore in 2019 and had recently introduced its new offering B-Fizz, a malt-flavoured fruit juice based drink in the market and expects an overall growth of 10 percent in 2020. 
 
The entire Appy Fizz and now B-Fizz category have been an area where the company has seen maximum growth and expansion. 
 
The company is currently evaluating to have the next manufacturing facility to be set up in Vijaywada, Andhra Pradesh. 
 
It has already set up greenfield facilities in Sitarganj, Uttarakhand and Mysuru, Karnataka, which are the largest in terms of size and manufacturing capacity amongst all of the company's facilities. 
 
It has a total of 67 manufacturing units across India, out of which nine are company-owned beverage units and one is a standalone preform manufacturing unit, with the rest being franchisee units. 
 
In terms of marketing investment for the remaining 2020, the company will be spending around Rs 40 crore on the marketing of B-Fizz.

 

 
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