Heritage Foods surged 8.93% to Rs 301.20 after the Indo French joint venture between the company and Novandie Foods launched French Yoghurt brand Mamie Yova in India.Heritage Novandie Foods, a joint venture between Heritage Foods and Novandie Foods, a subsidiary of Andros, France, started in 2017, today announced their entry in the Indian market with its first line of products.
The start-up is now introducing French Yoghurt recipes for the Indian market through their Yoghurt brand – Mamie Yova. Mamie Yova’s fruit yoghurts and the yo pop are ready to be made available through multiple distributors and retailers, spread across modern trade, standalone supermarkets, and ecommerce channels.
The brand’s journey has commenced from 3 cities in India – Mumbai, Pune, and Ahmedabad and plans to reach Baroda and Surat by end of March 2021, followed by expansion plans to Hyderabad and Bangalore by first quarter of FY21-22.
Heritage Foods is one of the largest private dairy products provider from South India. It processes and markets a full line of dairy products including fresh milk, curd, buttermilk, lassi, ice-cream, paneer, ghee, table butter, cooking butter, milk powder, flavored milk, UHT milk and dairy whitener. Headquartered in Hyderabad, the company has a significant presence in the states of Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharastra, Odisha, NCR Delhi, Haryana, Rajasthan, Uttarakhand & Uttar Pradesh.
In the past six months, the stock has declined by 8.14% while the benchmark Sensex has added 35.89% during the same period.
Source : Business Standard , Feb 17,2021