Special Correspondent : The board of directors of listed food and accessories company Taufika Foods and Lovelo Ice Cream PLC has decided to acquire 50 percent of the paid-up capital of its subsidiary Sharika Foods and Amandla Limited. The company will buy the shares if it receives the consent of investors.

It is learned that Sharika Foods will market frozen foods under the name ‘Amandala’. Considering the great potential for the development of the frozen food industry, initiatives have already been taken to build a factory. This factory will be built in Bhaluka, Mymensingh district. Where initially 4 metric tons of various types of frozen foods can be manufactured daily.

The demand for frozen foods such as paratha, roti, chicken nuggets, meatballs, fishballs, potato puri, dal puri, spring rolls, samucha, singara, etc. is increasing day by day in the Bangladesh market. Moreover, there is a huge demand for it in different countries of the world. Frozen foods marketing process is the distribution cold van and refrigerator are significant logistics. Lovelo Ice Cream already has this logistics. As a result, the company believes that since ice cream and frozen foods business are complementary businesses, success will come very easily.

Meanwhile, Lovelo Ice Cream’s experienced sales and marketing team has already achieved great success. As a result, Lovelo has decided to purchase 50 percent of Amandala’s shares to utilize its experience in ice cream company management in frozen foods. The company is even considering listing Amandala on the capital market in the future.

Incidentally, Amandala will give priority to the global market from the domestic market in terms of marketing. More than 70 percent of Amandala’s products will be exported to the UK, US and Canada.