India-based freeze dried food firm Saraf Foods has announced plans to expand its production capacity by 50%, in a move to cater to the increasing consumer demand for ready-to-eat foods.
As part of the expansion, the company plans to invest around INR150m ($2.44m) at its plant in Vadodara, Gujarat.
The investment will increase the production capacity to 11 tons per day from the current 7.5 tons at the plant.
The company, which generates INR240m ($3.91m) in annual sales, plans to increase its turnover by 10 times over the next four years.
Saraf Foods currently produces a wide range of freeze-dried products including sweet corn, green peas, onion, banana and green peppercorn.
Of the total production, the company exports more than 60% to markets such as US and Europe.
Mauritius-based PE Fund DSG Consumer Partners had recently acquired 29% stake in the company.
Image: Saraf Foods produces sweet corn, green peas, onion, banana and green peppercorn. Photo: courtesy of adamr / FreeDigitalPhotos.net.
