Shares of Manpasand Beverages advanced over 4% on Tuesday after the biscuits major Parle Products and Manpasand Beverages announced an exclusive tie-up for distribution network sharing and cross-promotion of their brands. The stock of Manpasand Beverages rose as much as 4.52% to the day’s high of Rs 832.4 on BSE today. Under the partnership, Manpasand Beverages will have access to Parle’s 4.5 million outlets across India for its flagship brand ‘Mango Sip’ juice, Manpasand Beverages said in a statement.
Manpasand Beverages has introduced a new packaging for Mango Sip – ‘Mango Sip Gold’- for this partnership. Under this, Parle biscuit packs and wafers will be offered along with Mango Sip’s various Stock Keeping Units (SKUs), it added. Currently, a pilot programme is underway in the eastern region of the country involving two lakh outlets of Parle Products.
Manpasand Beverages Chairman and MD Dhirendra Singh said Parle Products emerged as natural partner as they have a
strong distribution network across the country and also a diversified product portfolio that caters to all types of consumers. “The pilot phase of this tie-up is underway and responses so far have been very encouraging as customers are appreciating the affordable pricing of the combination,” Singh added.
Parle Products Category Head Krishna Rao said: “This is a significant venture for us as we look for further growth in the Indian FMCG market with value-for-money products.” Under this tie-up, both companies will cross-promote their brands and aim to achieve a significant market share in snacks and biscuits and the beverage industry, the statement added.