Indian shrimp manufacturer makes moves into pet
Avanti Feeds has established a pet care subsidiary and entered a joint venture with a Thai pet food manufacturer.
The Hyderabad-based shrimp feed and processing firm is venturing into the pet food space by expanding its shrimp portfolio to pet care through a joint venture with Thai pet food manufacturer Bluefalo Company.
Avanti reportedly holds 51% of the partnership and has established a subsidiary called Avanti Pet Care for the new business.
The partnership between both companies, that is expected to be implemented in 2 years, includes deals on manufacturing and trading capabilities for not just pet food but pet care and grooming products like soaps, shampoos, medicines, creams and grooming equipment.
New markets like China and Japan will form key interests over traditional US and European markets.
Avanti’s operational endeavor in a new space is part of a business strategy to maintain business growth and protect margins as the shrimp market is expected to plummet through next year.
The Indian company reported a net profit of ₹1.15 billion ($13.8M/€12.9M) and revenue worth ₹1,553 billion ($189.9M/€171.5M) in the last quarter ending in June.
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