New joint venture between McCormick and Kohinoor Foods: India
The agreement sees US-based McCormick secure Kohinoor’s Indian manufacturing units as well as the sales, marketing and distribution rights of the Kohinoor brand.
The new joint venture, Kohinoor Speciality Foods India Pvt, will market and sell basmati rice and food products throughout India.
Satish Rao, formally of McCormick, is the new MD of the joint venture company. He said the company “will invest more money in sourcing rice and building infrastructure and to bring in new technology for ready-to-eat food, frozen foods and market and distribute it. McCormick will also be introducing a series of new products in India by June 2012.”
The new alliance reflects McCormick’s strategy to bring different food and flavour innovations to areas of rapid economic growth and builds upon its existing Indian investments.
