Sabols launches 'Mango Magic'

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Chennai, Apr 21 (UNI) Sabols, a leading player in the packaged drinking water segment in South India, today launched "Mango Magic" fruit juice and announced its plans to come out with a host of food products in the coming years.

Launching the new fruit juice at a press conference here, Company Chairman K M Senthil said "Mango Magic" was being launched today in Tamil Nadu, Karnataka, Kerala, Puducherry and Andaman and Nicobar Islands.

The company would be launching carbonated drink "Sprint" next month and subsequently come out with a host of fruit juices like Apple, Orange Pineapple and energy drinks.

Sabols Group has consolidated into Sabols Foods India Private Limited and the company plans to come out with food products like noodles, biscuits, chocolates, ice-creams, pickles and ready-to-eat items involving an investment of about Rs 25 crore, he said.

The company, since its operations in 1999, had established eight water plants and proposed to set up additional plants in Andhra Pradesh, Kerala and Maharashtra to emerge as a Pan-India company in water business.

After setting up the additional plants, the company's turnover in water business was expected to go up by Rs 35 crore in 2008-09 from the present Rs 12 crore.

For food products, the company planned to set up plants in Chennai, Hyderabad and Bangalore, involving a total investment of Rs 35 crore, Mr Senthil said.

"The launch of Mango Magic is just a platform to enter the food market," he said.

He said some of the plants would be set up on franchise models.

The company was also considering private equity placment and would come out with IPO in the next three years.

"We are considering private equity giving opportunity for investors to be with the team of Sabols and grow with us," he added.

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