Business Opportunities in India
Parag Milk Foods launched cheese brand 'Go'
Our Bureau
Date of posting: 02-02-10
      The Indian dairy industry is booming. Players like Parag Milk Foods from Manchar near Pune, known better for its brand “Gowardhan” are looking to exploit this huge opportunity.

      Gowardhan is a popular brand among milk and ghee lovers but now the Rs 350-crore, Maharashtra-based company is going beyond conventional dairy products and has launched a cheese brand “Go”. The company plans to invest Rs 260 crore (approx. 43 million Euros) in the new cheese business over the next two years.

      Devendra Shah, chairman of Parag Milk Foods, said: "We have been moving from basic dairy products like ghee and milk to value-added products like Dahi and Fruit & Dahi which have been very well received in the market. With the commissioning of our state-of-art cheese plant, we are now ready with a delectable range of cheese never before offered to the Indian consumer. In keeping with our dairy philosophy, all of our cheese is made from 100% cow's milk".

       The company has a comfortable cash position after Motilal Oswal Venture Capital Advisors invested Rs 60 crore in 2008. It has recently set up a new plant for cheese, and another one is coming up in South India.

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