Source: hungryforever.com
Future Group owned Nilgiri Dairy Farm Pvt Ltd that operates a chain of convenience stores has been a regular household name in Southern India. But now the group is all set to make its entry in the North Indian market as well.
According to reports, Nilgiri Dairy is tying up with local vendors across India to supply baked and dairy goods to match up to the food retail blueprint of its parent group.
Spreading The Goodness
“We are forging manufacturing partnerships closer to market to deliver low shelf-life products such as milk/ curd/ yoghurts and have recently launched Nilgiri’s milk, curds, paneer in Delhi. We are looking at similar partnerships in eastern India,” Murali Krishnan, CEO, The Nilgiri Dairy Farm told VCCircle.
The coalition starts with the first tie up in Ballabgarh with Gopal Dixit promoted GK Dairy and Milk Products (Pvt) Ltd, which supplies dairy goods under the name of ‘Gopaljee’. But the products sourced via Nilgiri will be marketed under the Nilgiri brand name itself. These will initially be sold across states like UP, Haryana and Punjab starting January 2016.
Currently Nilgiri’s bakery and dairy products are up for sale at outlets like Big Bazaar, Foodhall, KB Fair Price and KB Conveniently Yours stores throughout India.
Future Group Acquisition
Founded by the Mudaliar clan in 1905, Nilgiri Dairy has 160 franchise-based stores and supplies its products to 4,800 outlets that cover Kerala, Karnataka, Andhra Pradesh and Tamil Nadu.
Back in 2005 in an exceptional buyout, private equity firm Actis grabbed a marginal stake in the company. It is expected to have put around INR 300 crore or more in the firm.
Nilgiri Group was taken under the Future Group umbrella in September of this year. The enterprise became a 100% subsidiary of the parent company with Future Consumer Enterprise Ltd (FCEL), the food and FMCG arm of Kishore Biyani-led Future Group buying the remaining 2.03% in the south India based company. In November 2014, FCEL had bought 97.97% stake in Nilgiri Dairy and its subsidiary companies, from private equity firm Actis Capital, reports VCCircle.
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