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RP Sajiv Goenka Group is in talks with Surat-based start-up Harley Foods which will help the former to enter into the premium snacks range. According to a leading news website, The Hindu Business Line, the group is planning to invest ₹600 crore in snack foods and Harley Foods is in talks with them to have them invest ₹20 crore in their company. As Harley Foods has the same category in the portfolio, it might help RP-Sanjiv Goenka group in entering the snacks segment, said Soumik Mitra, CMD of Harley Foods to the Hindu Business Line.
Mitra, who has worked with companies like Rasna and Prataap Snacks before starting Harley Foods two years back, is negotiating with big FMCG companies based in Kolkata to raise money for its venture. However, he said that talks with the RP Sanjiv Goenka Group is in an advanced stage as they have shown interest in acquiring packaged foods company. He also added that his company will develop new product categories which will be the Group’s future food categories.
RP-Sanjiv Goenka entered the FMCG market, earlier this year under the name of a new company Guiltfree Industries. During its launch, the Chairman of the Group, Sanjiv Goenka had said that in order to get better distribution and infrastructure for manufacturing, it is eyeing acquisitions of several food companies. The company has plans to sell Indian and Western packaged snacks under the brand “Too Yumm”.
With a turnover of ₹40 crore, Harley Foods has been expanding its product range and has included sweets, confectionery, healthy snacks and juices. Apart from this, the RP-Sanjiv Goenka Group is in talks with the Rajkot-based Apricot Foods, which sells snacks under the brand Evita. Unlike Harley Foods, Apricot Foods is a 10-year old FMCG company with a turnover of ₹250 crore.