Sweet Magic Foods launches Wheat Rusk, eyes Rs 130 cr by 2019

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New Delhi, December 07, 2017: Vijayawada-based Sweet Magic Foods, which having experience in F& B (Sweets & Bakery products) and hospitality sector across Telangana and Andhra Pradesh announced their foray into packaged food category by launching “Sweet Magic Wheat Rusk” here on Tuesday. The product was unveiled by Sweet Magic Foods Managing Director, Mr AVS.Vara Prasad, Lemon Sales and Distribution Pvt Limted Managing Director Mr V V Ranga Rao, in the presence of eminent directors from Tollywood including Mr. S.S.Rajamouli, Mr. V.V.Vinayak, Mr.Sukumar, Mr.Vamsi Paidipally and Mr. Krish. Speaking on the occasion, the company MD, Mr Prasad said the “Rusk” is a high growth segment, which is expected to grow at 25 per cent and become a Rs. 5000 Crore market by 2020. The company’s turnover is expected to cross Rs 130 crore by 2020 against the prersent turnover of Rs 30 crore by grabing 10 per cent market share by 2019 with this new food product ‘wheat Rusk’ available in two packages, he said. Through this Wheat Rusk, the first product in the packaged food segment, we are expecting to get Rs 100 crore turnover by 2019, he said the current capacity of Rusk unit at Vijayawada was 600 Metric tonnes per month to cater South India market. Our initial entry would be with plain Sweet Magic Wheat rusk, however, we plan to add flavored variants shortly, he explained. Mr. V V Ranga Rao said we are proud to be associated with Sweet Magic Foods as a strategic marketing and distribution partners for their foray into the Branded and packaged food category and launch “Sweet Magic Wheat Rusk. We plan to drive market expansion with the 65g trial pack priced at Rs 10 per pack. We also offer the 190g bulk pack at Rs 30 per pack for regular users, he said. We are confident that the people will appreciate the taste and our attractive packing for Sweet Magic Wheat Rusk. We are planning to focus on increasing our presence in key south markets and creating a niche for ourselves in the branded food category, he added

United News of India

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