The partnership will fortify Future Group's offerings in health food category along with setting up an exclusive factory in Karnataka.
As part of the partnership and strategic joint venture, the company is also planning to have its first factory set up in Tumkur, Karnataka by the end of this year. Irwin D. Simon, Founder, President and Chief Executive Officer of Hain Celestial commented on the partnership, “This is a great opportunity for us to expand in the Indian market through Future Group’s strong distribution network. Our aim is to bring the best of natural and organic products to India at a price point that gives Indian consumers the best value of money. We also believe that this venture would bring great benefits to Indian farmers as we will be working on educating them so as to improve yield.”
Kishore Biyani, Group Chief Executive Officer, Future Group, mentioned, “Our partnership with Hain Celestial will help us provide Indian consumers with the best of natural and organic products. We are excited at the prospect of revolutionising the organic food space in India with them.” The Joint Venture and India expansion plan is expected to provide Hain Celestial with an opportunity to grow distribution of the company’s brands and products throughout the country. The company will also explore the possibility of sourcing and processing more organic and natural products from India through this partnership. It will use Future Group’s existing infrastructure and Big Bazaar outlets for distribution of its food products which will be available all over India.