LT Foods Europe Company Profile

Background

LT Foods Europe is a subsidiary of LT Foods Ltd., a leading Indian-origin global FMCG company specializing in the consumer food sector. With a legacy spanning over 70 years, LT Foods has established itself as a prominent player in the specialty rice and rice-based foods industry, delivering high-quality products to more than 80 countries, including India, the U.S., U.K., Europe, the Middle East, and the Far East.

The company's flagship brands include DAAWAT®, one of India's most cherished Basmati rice brands, and Royal®, North America's leading Basmati rice brand. LT Foods is committed to catering to evolving consumer preferences by offering organic food products globally and supplying organic food ingredients to leading businesses. The company's mission is to nurture the goodness of food for people, the community, and the planet.

Key Strategic Focus

LT Foods Europe aims to expand its private label business, enhance its retail and HoReCa (Hotel, Restaurant, and Catering) network, and increase brand equity for its flagship brand, DAAWAT®, in the European market. The company emphasizes a "farm to fork" philosophy, ensuring the delivery of the freshest rice with the highest quality standards.

Financials and Funding

As of FY 2024, LT Foods Ltd. reported consolidated revenues of approximately ₹7,822 crore, reflecting a 5-year revenue CAGR of 17% and a PAT CAGR of 32%. The company's integrated "Farm to Fork" approach is supported by a robust distribution network and global supply chain hubs, including automated state-of-the-art processing units in India, the U.S., and Europe.

Pipeline Development

LT Foods Europe is focused on expanding its product portfolio to include organic whole grains such as oats and flax seeds. The company's products are available in both retail and online stores, catering to the growing demand for organic and health-focused food options in the European market.

Technological Platform and Innovation

LT Foods Europe leverages advanced processing technologies and adheres to stringent quality control measures to ensure product excellence. The company's commitment to innovation is evident in its continuous efforts to develop new products that align with emerging consumer habits and preferences.

Leadership Team

Vikas Magoon: Managing Director

An experienced leader in the European food industry, Vikas began his career as a management trainee at Unilever, holding various finance and commercial roles over eight years. He later assumed executive leadership positions at Veetee UK and LT Foods Europe. Vikas is a Chartered Accountant and holds an MBA from London Business School.

Aditya Arora: Director - Operations

Aditya started his career as a Business Development Manager with Nature Bio Foods and is currently a Director at LT Foods Europe. He has a demonstrated history of working in the food production industry, with expertise in negotiation, business planning, management, customer service, and sales.

Anmol Arora: Director

With 10 years of experience, Anmol has been instrumental in growing the organic division of the LT Group, scaling it at a CAGR of 20% year-over-year from one plant to four plants in a decade. He possesses comprehensive knowledge in business ethics, operations, and development, contributing to the organization's growth and profitability.

Anubha Bajaj: Director - Sales

Anubha brings 25 years of experience in FMCG sales, marketing, and business development across international markets. She has a proven track record in developing and executing successful commercial strategies, expanding the footprint of start-up businesses in Europe and the United Kingdom.

Kamal Poplai: Associate Director - Quality and Assurance

With over 35 years of experience in the Food and Beverage Industry, Kamal specializes in Quality Assurance and Food Safety Management. He has held senior leadership roles at renowned organizations such as SGS, overseeing diverse functions including laboratory operations, food inspections, and manufacturing quality processes.

Mirna Duskan: Human Resource

Mirna is a strong and independent HR professional with over 10 years of experience in all facets of HR. She has been heading the HR department for LT Foods Europe since 2018, driving HR strategy and supporting a team of 90 employees across more than 10 nationalities.

Vishal Aggarwal: Finance Controller

Vishal has over 14 years of experience as a seasoned financial professional. He currently serves as the Head of Finance and Accounts at LT Foods U.K. Ltd., with a proven track record in financial accounting, reporting, analysis, and controlling.

Vaibhav Srivastava: Finance Controller

Vaibhav is a strategic Senior Financial Controller with over 14 years of experience in financial management, planning, and analysis. He heads Finance & Accounts at LT Foods Europe B.V., with expertise in financial reporting, budgeting, cash flow management, and regulatory compliance.

Mohit Gupta: Operations & Supply Chain Head at LT Foods UK Ltd

Mohit is a seasoned food technologist with 14 years of diverse experience in food manufacturing operations. He leads operations and supply chain activities at LT Foods UK Ltd., overseeing the entire supply chain to ensure timely delivery of high-quality products and services.

Oyeyemi Bamisaiye: Head of Quality, LT Foods UK Ltd.

With over 18 years of experience in food safety and quality, Oyeyemi heads the Quality Function of LT Foods UK Ltd. He drives strategies to ensure smooth functioning of quality and food safety processes, systems, and guidelines for all incoming materials, processes, and finished goods.

Leadership Changes

In January 2021, LT Foods Ltd. acquired a 30% stake in the Netherlands-based organic specialty food company Leev.nu through its subsidiary, Nature Bio Foods BV. This strategic move aimed to enhance LT Foods' presence in the European organic food market.

Competitor Profile

Market Insights and Dynamics

The European specialty rice market is characterized by a growing demand for high-quality Basmati rice and organic food products. Consumers are increasingly seeking healthier and more sustainable food options, driving the growth of organic and specialty rice segments.

Competitor Analysis

KRBL Limited: Founded in 1889 and headquartered in Noida, Uttar Pradesh, KRBL is a significant competitor in the specialty rice market. The company operates in the Food & Beverages sector and generates approximately 72% of the revenue of LT Foods.

Rajesh Industries: Established in 1981 in Karnal, Haryana, Rajesh Industries operates in the Food & Beverages space, similar to LT Foods. The company generates significantly less revenue than LT Foods, with a difference of approximately $806.9 million.

Muskan Overseas: Founded in 1999 and headquartered in Karnal, Haryana, Muskan Overseas operates within the Baked Goods, Frozen & Prepared Foods sector. The company has fewer employees compared to LT Foods.

Strategic Collaborations and Partnerships

In January 2021, LT Foods Ltd., through its subsidiary Nature Bio Foods BV, acquired a 30% stake in the Netherlands-based organic specialty food company Leev.nu. This partnership provides Leev.nu access to organic products grown by Nature Bio Foods' extensive network of over 60,000 organic farmers cultivating more than 80,000 hectares of certified organic land in India. The collaboration aims to promote India's organic products in the European Union and enhance the availability of organic ingredients in the Netherlands.

Operational Insights

LT Foods Europe operates with a strategic concentration on expanding its market presence, pipeline, and product portfolio to cater to the increasing demand for specialty rice and organic foods in Europe.