Potato Processor HyFun Foods announces Ambitious Expansion Plans

HyFun Foods, a major player in the frozen food industry based in India, has announced a fresh brand identity and ambitious expansion plans focused on the Indian market. This comes alongside a significant investment of INR 1,100 crore (USD 134.9 million) in India’s Gujarat province to establish three new state-of-the-art manufacturing facilities.

The new investment will come through a combination of internal funds and bank loans. Founded in 2015, HyFun has experienced significant growth, achieving over INR 1000 crore (USD 122.6 million) in revenue last year. The company attributes this success to its unique "seed-to-shelf" model.

 

Haresh Karamchandani, Managing Director & CEO at HyFun Foods

This approach involves partnerships with both farmers and international food chains. HyFun currently collaborates with over 6,000 farmers and anticipates procuring over 300,000 tonnes of potatoes this year.

Haresh Karamchandani, Managing Director & CEO at HyFun Foods:
 

"Hyfun's comprehensive visibility spans from the germplasm stage grown in labs to the seed potato planted in the ground by farmers to the commercial crop in cold storages, all before processing in the Company's state-of-the-art plant."

"We truly believe that what we have done with potatoes in such a short time can be replicated across multiple crops, and this is in line with our PM's vision of 'Make in India, Make for the world' while enabling India to become the food basket of the world."

HyFun's expansion strategy prioritizes the Indian market. The company aims to quadruple production and achieve a revenue target of INR 5,000 crore (USD 613.5 Million) by 2028. Currently, export markets account for 70% of HyFun Foods' current turnover.

Haresh Karamchandani:
 

We are targeting a revenue of Rs 1500 in crore 2024-25next fiscal and INR 5,000 crore by 2028. HyFun also unveiled a new logo and brand mascot, Funzy, to reflect its commitment to innovation, quality, and customer connection. The logo features two smiles, symbolizing the link between farmers and consumers. Funzy, the energetic mascot, embodies HyFun's focus on a more engaging communication strategy."

"We’re thrilled to unveil our new logo, which embodies the spirit of HyFun Foods — joyful, innovative, and committed to quality. With this rebranding, we’re not only celebrating our past achievements but also setting the stage for an exciting future filled with convenient food, delicious flavours, and a robust range of frozen food products."