Paper Boat maker Hector Beverages opens second plant in Mysore
The new plant will raise the company’s monthly capacity by four times to eight million packs
Mysore: Hector Beverages Pvt. Ltd, the maker of Paper Boat drinks, on Wednesday opened a plant in Mysore, raising monthly capacity by four times to eight million packs.
“South is an important market for us. Both Chennai and Hyderabad are growing at a very fast pace. This plant will service the southern and western markets,” said Neeraj Kakkar, co-founder and chief executive officer at the Bengaluru-based company.
The company spent $4.5 million to set up the Mysore plant. Its first plant at Manesar in Haryana was built in 2009.
On whether the company will raise a fresh round of funds, Kakkar suggested that the company could be in the market by early next year.
“We are good for now. We just put up this plant for $4.5 million and we are launching a very large marketing campaign that will go on air later this week,” he said.
Over the next three months, the company plans to introduce five more Paper Boat flavours. It recently started selling in international markets, serving the Indian diaspora. It also tied up with British supermarket chain Tesco Plc to sell the brand in London.
Started in 2010 by former Hindustan Coca-Cola Beverages employees Neeraj Kakkar and Neeraj Bryant, Hector Beverages sells Tzinga and Paper Boat brands. Paper Boat is the company’s fastest growing brand that accounts for 75% of the sales.
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