Hindustan Foods to acquire pest product facility from Reckitt Benckiser India

hindustan-foods-to-acquire-pest-product-facility-from-reckitt-benckiser-india

FMCG firm Hindustan Foods (HFL) will acquire the pest products manufacturing factory of Reckitt Benckiser India (RB) at Samba, Jammu as a going concern on a slump sale basis.

 

The company is looking to achieve a minimum top line of Rs 125 crore after this acquisition.

 

According to the company statement, “HFL is in the process of acquiring the factory as a going concern on a slump sale basis and also the leasehold rights over the factory from the State Industrial Development Corporation (SIDCO,J&K). The transfer of the unit from RB to HFL and start of operation by HFL will take approximately two months as HFL is required to complete all legal documentation.”

 

“Last December, the company took over a Hindustan Unilever enterprise, Ponds Exports Ltd, engaged in leather business”, according to statement

 

HFL has also entered into a supply agreement on October 26 for supply of pest products to RB which will commence from closing date to be decided by the two parties.

 

Sameer Kothari, MD, Hindustan Foods Limited said, “We are confident of achieving a minimum top line of Rs 125 crore from this acquisition.”

 

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