HyFun Foods unveiled its fresh brand identity and outlined an India-focused expansion strategy based on a capex investment of Rs. 1,100 crore in Gujarat during a press meet held in New Delhi on March 06, 2024. The company is in the process of establishing three new state-of-the-art manufacturing plants to cater to the increasing demand in both domestic and international markets.
Having initiated its first unit in Mehsana, Gujarat, in 2015, HyFun has subsequently expanded to set up four additional units, achieving a revenue of over Rs. 1000 crore last year. According to the Agricultural & Processed Food Products Export Development Authority (APEDA), HyFun stands as India's leading exporter of frozen fruits and vegetables.
HyFun's Seed-to-Shelf Model: Ensuring Quality & Driving Growth
HyFun adopts a unique seed-to-shelf model, fostering partnerships with tissue-culture labs and farmers for seed potato and commercial crops on one end of the value chain, while collaborating with large international Quick Service Restaurant (QSR) chains and multi-billion-dollar multinational corporations on the other. The company currently engages with over 6,000 farmers and anticipates procuring over 300,000 tonnes of potatoes this year.
"Hyfun's comprehensive visibility spans from the germplasm stage grown in labs to the seed potato planted in the ground by farmers to the commercial crop in cold storages, all before processing in the Company's state-of-the-art plant. This thorough inspection ensures strict adherence to quality standards and has propelled Hyfun's 20-fold growth, from 50 Cr to 1000 Cr, in the last 7 years. Moving forward, we aim to procure over a million tonnes of potato, quadruple our production and reach over Rs. 5,000 crore revenue in the next 5 years. We truly believe that what we have done with potatoes in such a short time can be replicated across multiple crops, and this is in line with our PM's vision of ‘Make in India, Make for the world’ while enabling India to become the food basket of the world," said HyFun Foods' Managing Director & CEO, Mr Haresh Karamchandani.
He added, "Our state-of-the-art plants have been operating with a firm commitment to abide by the UN Sustainable Development Goals. We aim to double down on our commitment through additional investments into cutting-edge effluent treatment plants and biogas plants that convert the solid waste generated in agri-business into biofuel," Explaining their India strategy, Mr. Karamchandani explained that they are aiming to bring quality and convenience into every kitchen through a two-pronged approach of deeper pan-India distribution through its business partners and a wider assortment of both Indian and global cuisines. HyFun Foods aims to become a convenient snacking option for customers, including QSRs, restaurants, hotels, and cafes.
Mr. Sandeep Dey, President RBA Indonesia (Burger King and Popeyes) said, "Since our first meeting in 2015, Haresh's visionary leadership, clarity, and commitment to company values formed the basis of our partnership, which has now come a long way. HyFun's unwavering quality, commercially competitive business, and reliability as a partner, make them a trusted supplier not just in India, but extending the partnership into international markets like Indonesia. Our relationship is based on shared values and has proven resilient over the years."
Mr. Mohit Sharma, Director SCM & Quality Assurance at Pizza Hut India, said, “Our ongoing partnership with HyFun has spanned several years, encompassing India and the wider Asia region. We extend our congratulations on their successful brand launch and wish them continued success in the future.”
Today HyFun Foods exports to around 40 countries and plans to expand its international presence further while continuing to remain the partner of choice for QSRs and its food service customers.
