Hindustan Unilever Limited (HUL) a leading company in the FMCG sector announced that it is selling its brands, Annapurna and Captain Cook to Uma Global Foods and Uma Consumer Products.
The deal was struck for the atta and salt brands with Singapore-based Reactive Brands International, the parent company of Uma Global Foods and Uma Consumer Products, for a sum of Rs 60.4 crore.
The divestment from HUL will include copyrights, trademarks, intellectual properties and any other exclusive property owned by the atta and salt brands.
The consolidated turnover of Annapurna and Captain Cook brands for FY 21-22 was at RS 127 crore as reported by Business Standard.
The divestment from the FMCG major is in line with the company's intent to exit non-core businesses and focus on growing packaged food business of dressings, scratch cooking and soups.
Hindustan Unilever Ltd. is a legacy company in the FMCG sector with 62 household brands including Bru, Clinic Plus, Clear, Hammam, and Glow & Lovely. The company is a large cap with a market capitalization of RS 6,05,759 crore. The share of HUL closed at negative 0.48% at Rs 2,515 on NSE.
© Vygr Media Private Limited 2022. All Rights Reserved.
