Amira Nature Foods announces opening of eight distribution centers in India, expects to expand to 15 centers by end of fiscal 2015
DUBAI, United Arab Emirates
May 5, 2014
– Company Opens 8 Distribution Centers in Fiscal 2014 to Capitalize on Growing Consumer Demand
Amira Nature Foods Ltd (the “Company”; NYSE: ANFI), a leading global provider of branded packaged Indian specialty rice, announced today the opening of 8 distribution centers in India in fiscal 2014 to capitalize on the extensive growth opportunities across both traditional and Western-style modern retail locations. These distribution centers were opened in major cities and towns including,
Zirakhpur in the State of Punjab; and
Surajpur in the State of Uttar Pradesh.
The Company now has a total of 8 distribution centers and it targets to expand this number to 15 distribution centers by approximately the end of fiscal year 2015.
Karan A. Chanana, Amira’s Chairman and Chief Executive Officer, stated, “Our team continues to execute aggressively on our strategic initiative to strengthen Amira’s distribution footprint in India as we look to further benefit from India’s growing middle class and their increasing desire for branded specialty rice. We added four centers in the fiscal fourth quarter for a total of eight centers opened in fiscal 2014. All eight of these centers are company-managed distribution centers, which we expect will result in greater market penetration and higher margins. We continue to have success in servicing both the traditional trades, including the mom-and-pop stores throughout the countryside in India as well as capitalizing on the evolving and growing Western-style modern retail.”
About Amira Nature Foods
Founded in 1915, Amira has evolved into a leading global provider of branded packaged Indian specialty rice, with sales in over 40 countries today. Amira sells Basmati rice, which is a premium long-grain rice grown only in certain regions of the Indian sub-continent, under their flagship Amira brand as well as under other third party brands. Amira sells its products primarily in emerging markets through a broad distribution network. Amira’s headquarters are in Dubai, United Arab Emirates, and it also has offices in India, Malaysia, Singapore, the United Kingdom, and the United States. For more information please visit www.amira.net.
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