HUL Sells Atta And Salt Biz
PremiumHUL’s decision to divest the stake is in line with the company’s intent of exiting non-core categories while continuing to drive its growth in the packaged foods business of dressings, scratch cooking and soups.
NEW DELHI : Hindustan Unilever Ltd (HUL) on Friday announced that it has signed an agreement for the sale of its atta and salt business under ‘Annapurna’ and ‘Captain Cook’ brands for ₹60.4 crore.The brands are being sold to Uma Global Foods Pte Ltd., and Uma Consumer Products Private Ltd., which are subsidiaries of Reactivate Brands International, a Singapore-headquartered company and an affiliate of CSAW Aqbator Pte Ltd (Singapore).
HUL’s decision to divest the stake is in line with the company’s intent of exiting non-core categories while continuing to drive its growth in the packaged foods business of dressings, scratch cooking and soups, the company said in a statement on Friday.
The deal includes the transfer of trademarks, copyrights and other intellectual properties associated with India and several other geographies.
“Launched more than two decades ago, Annapurna and Captain Cook enjoy strong equity. Given our strategic priorities and portfolio choices, we believe it is in the business’ best interest to sell these brands to Reactivate Brands International, which is well-positioned to unlock their full potential," said Sanjiv Mehta, CEO & Managing Director of HUL.
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