Argentinian food firm Arcor,through its Danone joint venture firm Bagley,has forayed into the cereal market with the launch of its new cereal line in the country.
The company has invested$10m into the cereal line,which features seven cereal varieties such as cornflakes,sweetened cornflakes and granola types.
Bagley business manager Andrew Kroyer said the company's venture into the cereal market is in response to increased demand for healthier breakfasts in the country.
"Today we face a well-informed public that demands not only rich products,but also health and nutritious products,"Kroyer said.
The company plans to use its sales force to introduce the cereal line at 250,000 outlets,including supermarkets and wholesalers.With the launch,the company faces competition from firms such as Kelloggs,Nestlé,and Laso,reported Bakeryandsnacks.com.
Arcor noted that the cereal market in Argentina is worth nearly$360m,and has soared 45%over the past six years.
Bagley,which was established in 2004,produces cookies,cereals and Spanish confectionery,and has seven manufacturing facilities in Latin America.
