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Cornitos expands portfolio; Eying turnover of Rs 200 cr in five years
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Wednesday, 27 March, 2019, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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Cornitos, the home-grown nacho brand, is eying a turnover of Rs 200 crore over the course of the next five years, as it expands its product portfolio. Vikram Agarwal, managing director, Greendot Health Foods Private Limited (Cornitos), stated that the idea was to bring more and more healthier options to the consumers.
“Nachos are made of 100 per cent corn. The technology is brought from United States, but the product is made accordance to the Indian taste and pallet. The product is gluten-free and made with corn oil, which is very good for health,” he said.
Cornitos sources its corn through contract farming. And the company is on an expansion spree, wherein newer versions of nachos are being launched by the company, including quinoa, beetroot and spinach flavours. This has brought the total number of variants to 14 flavours.
Based in Faridabad, the company has two manufacturing units in Roorkee, Uttarakhand, and one more manufacturing line is coming up to sustain the demand.
“These two units have 2,000 tonne of annual production capacity, and in the next five years, a turnover of Rs 200 crore is what we want to achieve,” said Agarwal, while adding that additional products, including roasted nuts and seeds of pumpkin and sunflower, have been added to the portfolio.
The company is also in the forefront of collaborating with companies in land and in the skies as well.
Agarwal stated that the company has its presence across 24x7 retail stores, and has done collaboration with QSRs (quick service restaurants) like Burger King and Subway. It has also partnered with airlines like Vistara, Jet Airways, Air Asia and GoAir.
However, he opined that the market for healthier snacks, such as nachos, is still nascent, but has a higher growth opportunity.
It is pertinent to mention here that Cornitos is the largest brand in the nacho crisps category in India. The Cornitos portfolio includes nacho crisps, taco shells, chunky salsa dips, cheese dips, roasted premium nuts (cashews, peanuts and almonds), roasted salted pumpkin seeds, sunflower seeds, coated green peas and pickles (jalapeno peppers and gherkins).
Cornitos products are also exported globally, to the USA, Australia, China, Russia, the UAE, Saudi Arabia, Maldives, Hong Kong, Nepal, Sri Lanka, Pakistan and South-East Asia.
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