Beverage company Manpasand has introduced a new variant under its brand Mango Sip, 'Mango SipGold', and has entered a partnership with Parle products to jointly distribute their brands in the western markets, its chairman and managing director Dhirendra Singh said.
"It follows after the successful completion of the first phase of their joint distribution effort (in eastern markets)," Singh said, about launching the new product.
Through this partnership, Manpasand Beverage will have access to 45 lakh outlets pan-India for its flagship brand Mango Sip.
"The first phase of the partnership has just completed in the eastern region of India where up to one lakh outlets of Parle Products have been roped in by Manpasand Beverages," he said.
The response has led the two companies to take up the phase two of the project in western markets of India.
Last year, Manpasand Beverages has tied-up with Parle products to jointly distribute their brands and achieve a significant market share in snacks and biscuits and the beverage industry.
Through this partnership the Company targets to expand distribution by two-folds by next fiscal year.
Manpasand Beverages and Parle Products will jointly distribute their respective brands in western markets, starting with Gujarat from todayand cover other western states, he said.
As a part of this strategic tie-up, newly launched Mango Sip Gold will be available along with Parle G biscuits.
"Under the umbrella of 'super value offer,' Parle G biscuit packs, Parles Wafers & Fulltoss will be offered along with Mango Sip Golds various SKUs.
Speaking about the tie-up, Krishna Rao, Category Head, Parle Products said, "We are very proud of our Indian roots and it gives us immense pleasure to come together with another Indian company, Manpasand Beverages.
He said This is a significant venture for us as we look for further growth in the Indian FMCG market with our snacking range.
In order to meet the continuing demands of the customers, Manpasand Beverages has invested a sum of Rs 600 crore to set up four new plants in Vadodara, Varanasi, Sri City, and eastern region of India.
Out of these four, the construction work of the unit in Vadodara is completed and is operational.
The plants at Sri City and Varanasi are nearing completion, while the one in the eastern region is upcoming.
These four new plants will not only double the companys production capacity in the coming 12-18 months, but will also help Manpasand to reach out to newer markets, Singh said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)