ITC Ltd's Food Division said on Wednesday it will invest Rs 150 crore (Rs 1.5 billion) in the next two years for its foray into the snacks segment and is eyeing 25 per cent market share of the Rs 2,000 crore (Rs 20 billion) organised market in the next 4-5 years.
"We have already invested Rs 60-70 crore (Rs 600 to Rs 700 million) for our foray into the snacks segment. In a couple of years we will be investing Rs 150 crore for the foray," Ravi Naware, divisional chief executive, ITC foods division, told reporters in New Delhi.
The company launched its snacks brand Bingo in 16 different flavours on Wednesday.
