ITC to invest Rs 150 cr for foray into snacks business

ITC Ltd's Food Division is foraying into the snacks segment and is eyeing 25% market share of the Rs 2,000 crore organised market in the next 4-5 yrs.

ITC Ltd's Food Division on Wednesday said it will invest Rs 150 crore in the next two years for its foray into the snacks segment and is eyeing 25 per cent market share of the Rs 2,000 crore organised market in the next 4-5 years.

"We have already invested Rs 60-70 crore for our foray into the snacks segment. In a couple of years we will be investing Rs 150 crore for the foray," Ravi Naware, Divisional Chief Executive ITC foods division told reporters here.

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The company on Wednesday launched its snacks brand 'Bingo' in 16 different flavours.