Home Food MTR Foods parent company Orkla Group announces foray into confectionery space

MTR Foods parent company Orkla Group announces foray into confectionery space

By  
SHARE

, the Norwegian branded consumer goods and parent company of has announced its foray into the Indian confectionery space with the ‘’.

MTR Foods parent company Orkla Group announces foray into confectionery space
Announcing the launch of Laban, CEO, MTR Foods, Sanjay Sharma said it marks the major shift in our strategy towards realizing 'One Orkla'

According to a PTI report: The launch of Norway’s popular confectionery brand ‘Laban’ in India, also marks the entry of first product from Orkla’s portfolio in the confectionary category, the company officials said.

They said Laban, a specially crafted human shaped, non-sticky, fruit-flavoured chew, will be manufactured and distributed by MTR Foods in India.

Announcing the launch of Laban, CEO, MTR Foods, said it marks the major shift in our strategy towards realizing ‘One Orkla’.

He said, “So far we were focused just on one brand MTR that has driven the growth, now armed with the wider vision, a fantastic team and backing from Orkla we can today unleash the power of One Orkla in India.”

“…With the widening of the vision, today we can add new categories, add new brands and new channels”, he said.

“One Orkla gives us access to several local brands and concepts that are successful in may countries where Orkla operates along with providing access consumer insights, successful concepts and flexibility to adapt to the needs of every consumer,” he added.

He said Laban’s product proposition has been localised to make it 100 per cent vegetarian confectionery with a range of flavours such as strawberry, mango, green mango and orange, and it will be available at all general and modern trade outlets across India price at Rs 10 for the 26 gms pack and Rs 30 for 65 gms pack.

Stating that the focus is to target 200 cities in India and reach reach 1,25,000 outlets in the first phase, Sharma said, “We are investing very heavily behind this, we have already invested Rs 40 crore behind the manufacturing line and we will be spending Rs 30-35 crore over the next three to five years towards building this brand.”

Pointing out that it has been 10 years since Orkla acquired MTR, CEO, Orkla Foods, said the company has invested Rs 2.5 billion into MTR for modernization and other things.