Best Foods to tie up with hotel chains for more business

Kolkata, April 19 (IANS) Best Foods, an integrated basmati rice player with presence across value chains, is planning to shore up its packaged rice business by tying up with hotel chains and increase retail outlets across the country, a top company executive said Thursday.

"Currently we have tied up with 30 hotel chains. We are planning to tie up with 60 hotels by the end of 2012," Best Foods Business Director Aayushman Gupta told reporters here.

Gupta said the company, which currently has 20 percent market share in the country in packaged rice category, was expecting its share to grow significantly by the year-end.

"Packaged Basmati rice is a huge market and it is growing significantly in India," he said.

The Karnal (Haryana)-based company is aiming at a 30 percent rise in turnover this year. It has a turnover of Rs.13 billion now.

Best Foods recently launched retail outlets for selling almonds, walnuts and honey in the capital city.

Gupta said he was aiming to expand the retail chain across the country in the next 20 months.