Nutrition food and beverage firm MonaVie plans to set up a manufacturing facility through a joint venture with an investment of INR1bn ($18.12m) in Chennai, India.
The company manufactures and distributes fruit products made from blended fruit and vegetable juice concentrates, powders, purees and weight-loss solutions through a multi-level marketing (MLM) business model.
MonaVie South Asia president Raj Lingam told Business Line that the manufacturing facility will more probably be at Sriperumbudur.
"We are confident of setting up a facility as soon as we scale up our operations here," he added.
MonaVie India managing director D Guna told the newspaper that the company is collaborating with local food technologists, experts to explore new possibilities.
Expanded across 23 countries, the company plans to customize and localize the product offerings to suit the Indian palate.
The company has launched cholesterol- and lactose-free RVL protein powder enriched with high protein.
RVL protein powder contains admissible levels of chromium and zinc, which help in maintaining blood sugar levels, claims the company.
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