Bharti Group engaged in telecom, insurance, realty and retail sectors, ventured into Food and Beverage (F&B) segment in partnership with Singapore-based Del Monte Pacific, according to media reports.
The joint venture company, which will operate under the name 'Field Fresh Foods Pvt Ltd.', will invest Rs.100 crore to develop a Greenfield manufacturing unit in India for processed food products at Hosur in Tamil Nadu that would commence operations by 2010. Rakesh Bharti Mittal, Vice-Chairman and Managing Director, Bharti Enterprises reportedly said that the company would initially manufacture juice drinks and culinary products like ketchup and mayonnaise. In 2004, Bharti Airtel and Del Monte Pacific had set up a joint venture to supply fresh fruit and vegetables. It invested Rs.150 crore in India over two years. The Ministry of Food Processing Industries has come out with a vision document that lists out a plan to double the market size of the food processing industry to Rs.8,20,000 crore by 2009-10 and trebling it to Rs.13,50,000 crore by 2014-15. Global Management Consultant, AT Kearney estimates the market sales of food and beverage retailing in India at $135 billion and growing at 10%-15% per annum. Joselito D Campos Jr, MD & CEO, Del Monte Pacific Ltd said that the food and beverage foray into India is a long-term commitment.
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