Ahmedabad, India-based Vimal Oil and Foods Ltd. plans to invest Rs 1 billion to tap the Rs 140 billion frozen food category.
Under the Vimal Fresh brand, the company would launch the Indian Platter line in 2014-15. It would be competing with the likes of Amul, Vadilal, McCain, Venky's, Godrej Tyson Foods, et al.
The move comes the same time as a major expansion into the snack foods market. In one category there, potato wafers, Vimal would source potatoes from Deesa in North Gujarat. Known for its potatoes, Deesa has already attracted Canadian frozen foods maker McCain, which has so far invested Rs 1.4 billion in its Mehsana unit and has recently announced additional investment of Rs 3.5 billion to increase the existing production capacity.
