Jain Irrigation hives off food division
Jain Irrigation hived off its food division into a subsidiary called Jain Farm Fresh Foods Ltd to cater to the domestic market
Mumbai: Jain Irrigation Systems Ltd has hived off its food division into an effective subsidiary called Jain Farm Fresh Foods Ltd to cater to the domestic market.
The company has launched AamRus in the general and modern trade segments in Mumbai and plans to expand to the rest of Maharashtra, as well as Gujarat, Madhya Pradesh and other states, within the next six months.
The food division has been in the food processing business since 1994, making pulps of mango, banana, guava, strawberry and dehydrated vegetables such as onion, garlic and ginger.
Jain Irrigation is a supplier of fruit pulps and dehydrated vegetables to multinationals such as Nestle SA, Coca-Cola Inc., and Unilever.
"The entry in the domestic market is a small but significant step towards value creation opportunity in the growing processed foods business in India," the company said in a statement to the BSE.
CA Mihir Desai
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