FieldFresh Foods, a joint venture between Bharti Enterprises and Del Monte Pacific, has announced its new corporate identity – ‘Del Monte Foods’.
In a press statement, the company said, “The change in identity is in line with the next phase of the company’s brand journey in which they intend to have a sharper focus on the branded processed foods and retail business.”
Its retail business has grown by 20% in FY 2021. The company said that the brand is trying to do so by introducing bigger, bolder product ideas and tripling its distribution coverage in the next 3-4 years, with a focus on the top 8 metros. This will be supported by increased investments in brand communication in relevant markets and a strong push on digitisation across the value chain.
Mahesh Kanchan, Chief Executive Officer, Del Monte Foods, said, “This is not just a change of name, it reflects a change in our approach, outlook and philosophy. Del Monte has worked hard to establish itself in the market and our focus will be on creating unique brand experiences at all relevant touchpoints while staying true to our brand promise of providing high quality products.”
As per the KPMG report ‘Indian food processing industry: Growth opportunities post the Covid-19 pandemic’, India’s food processing market is set to grow from $263 billion to $470 billion.