Apricot Foods

Apricot Foods Private Limited, operating under the brand name Evita, is a manufacturer and distributor in the Indian packaged snacks market. The company was incorporated on October 16, 2003, and was founded by Sanjay and Rajesh Patel. What began as a regional player in Gujarat has expanded its footprint significantly. A major milestone in the company's history occurred in August 2017, when the RP-Sanjiv Goenka (RPSG) Group acquired a 70% controlling stake for Rs 440 crore, integrating Apricot Foods into its FMCG vertical, Guiltfree Industries Limited. The founders retained the remaining 30% stake at the time of the acquisition.

The company's business model is focused on the mass-market segment, offering a wide array of affordable traditional and western snacks. The product portfolio is extensive, featuring over 45 variants and more than 110 SKUs, including namkeens (traditional savory snacks), potato chips, extruded snacks, fryums, and popcorn, with prices starting as low as ₹5 per packet. Evita primarily serves the general trade channel, leveraging a hybrid sales and distribution model that engages over 1,100 channel partners to reach consumers across more than 16 states in India. In addition to its branded products, the firm offers contract manufacturing and private labeling services for other retail chains and exporters.

Operationally, Apricot Foods runs four manufacturing facilities, including its original plants in Metoda (Rajkot), Gujarat, and another in Hyderabad, supplemented by third-party manufacturing units. The company prides itself on in-house capabilities for product development and the manufacturing of seasonings. Financially, the company has experienced a period of strategic repositioning. After peaking in fiscal year 2022 with revenues of ₹183 crore, sales declined as the company discontinued unprofitable products to improve its cost structure. Despite incurring losses and having a negative net worth, the firm benefits from the financial backing and strategic support of its parent, the RPSG Group, which has provided unsecured loans to fund operations and brand expansion.

Keywords: Apricot Foods, Evita Foods, Indian snacks manufacturer, packaged food, FMCG, namkeen, potato chips, extruded snacks, RPSG Group, Guiltfree Industries Limited, Sanjay Patel, Rajesh Patel, private label snacks, contract food manufacturing, affordable snacks, Indian mass-market, food processing, savory snacks, retail distribution, Gujarat food industry