Strategic Expansion: Gemini Edibles and Sree Annapoorna Forge Strong Alliance

Gemini Edibles and Fats India, a Hyderabad-based firm, has acquired a 70% stake in Coimbatore's Sree Annapoorna Foods to produce masalas and meal mixes. The joint venture, GEF Foods India Pvt Ltd, aims for Rs 100 crore revenue in the first year, growing significantly by 2025.

In a strategic business move, Gemini Edibles and Fats India, based in Hyderabad, has acquired a controlling stake in Sree Annapoorna Foods, a Coimbatore-based company known for its high-quality spices and meal mixes. This acquisition signals Gemini's foray into the spice industry through the newly formed joint venture, GEF Foods India Pvt Ltd.

Gemini Edibles, a subsidiary of Golden Agri-Resources, currently excels in the edible oils sector under its 'Freedom' brand. Senior Vice President Chandra Shekhara Reddy outlined the anticipated synergies, highlighting plans to leverage cross-selling opportunities and expand market reach alongside Sree Annapoorna's 50-year legacy in spice processing.

Financial projections are optimistic; GEF Foods aims to achieve Rs 100 crore in its inaugural year. The collaboration comes when the branded spices market in Tamil Nadu and South India is on a growth trajectory, with substantial investments already funneled into strengthening manufacturing and distribution capabilities.

(With inputs from agencies.)