Hindustan Foods Limited entered into a business transfer agreement to acquire Manufacturing Facility Of Reckitt Benckiser Healthcare India Limited at khasra for INR 1.6 billion.
December 14, 2022
Share
Hindustan Foods Limited (BSE:519126) entered into a business transfer agreement to acquire Manufacturing Facility Of Reckitt Benckiser Healthcare India Limited at khasra for INR 1.6 billion on December 15, 2022. The consideration is paid in cash. The transaction requires approval of the State Government for transfer of land forming part of the Undertaking and other customary approvals as required in relation to transfer of licenses/permissions etc.
Subject to fulfilment of the conditions precedent set out under BTA, the acquisition of the sale, subject to certain customary/usual adjustments in accordance with the terms and conditions set out in the BTA. Transaction is expected to be completed by H2 of calendar year 2023. As per the Hindustan Foods earnings call held on August 16, 2023, acquisition of the Baddi factory is delayed due to the statutory approvals and is expected to close towards the end of Q3 FY '24.
Hindustan Foods Limited is an India-based company that is primarily engaged in the business of contract manufacturing of fast-moving consumer goods (FMCG) products comprising primarily of home care, personal care, foods, and refreshments, packing of tea and job working of shoes. Its product categories include food and beverages, home care, beauty and personal care, health and wellness, pest control, and leather, sportswear, and accessories. Its food and beverages include breakfast cereals and snacks, spices, instant porridges, carbonated soft drinks, active water, and energy drinks, among others. Its home care includes surface cleaner, glass cleaner, toilet cleaner, liquid detergent, and powder detergent, among others. Its beauty and personal care include hair care, toiletries, skin care and baby care. Its health and wellness consist of oral liquids, allopathic tablets, digestive remedies, and others. Its pest control consists of aerosols, coils, and mosquito mats, among others.
Hindustan Foods Limited entered into a business transfer agreement to acquire Manufacturing Facility Of Reckitt Benckiser Healthcare India Limited at khasra for INR 1.6 billion.