Cremica Food Raises $15 Million To Expand Its Distribution Network

Cremica Food Industries, a food products company specialising in condiments, snacks and sauces, has received funding from Rabo Equity Advisors, the investment advisors for the newly established India Agri Business Fund II. This is one of the initial investments by the fund which focuses on several sectors in the country, including food services. 

Establishing Its Presence

Cremica Food owned by Akshay Bector and the company was formed after a split in the family-held business, Mrs. Bector’s Food Specialities Ltd. This round of funding is the first received by the company and the funds will be used to expand its distribution network to 120,000 outlets in 3 years. Speaking about investing in Cremica Foods, Rajesh Srivastava, chairman and managing director, Rabo Equity Advisors, said, “Rabo Equity is delighted to invest in Cremica and believes under the leadership of Akshay Bector, Cremica will become a strong household brand when it comes to sauces, condiments, and snacks.” 

Company Portfolio

The company is known for its sauces, condiments and snacks and has several products across these categories in its portfolio, including Cremica Tomato Ketchup, Cremica Chocolate Syrup and several dips such as Cremica Salsa Mexican and Chilli Garlic. The company is targeting sales revenue of Rs. 1,000 crore and is expected to achieve that due to increasing potential of the food services industry in the country. The funding will also be used to expand its reach to the Western and Southern regions of the country from the current North India specific base. Cremica also has plans to augment its existing manufacturing plant in Phillaur with the opening of a new food park and plant in Himachal Pradesh.