HUL is going to sell the Annapurna and Captain Cook brands for Rs. 60 Crores.

FMCG major Hindustan Unilever Limited (HUL) on Friday announced that it has signed an agreement for the sale of its atta and salt business carried out under the brands ‘Annapurna’ and ‘Captain Cook’ for Rs 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). CSAW is focused on acquiring and scaling up food brands to promote affordable wellness.
The sale by HUL is consistent with its stated goal of leaving non-core categories alone while pursuing its development strategy in the packaged foods sector, which includes dressings, soups, and scratch cooking.
Trademarks, copyrights, and other intellectual assets related to India and numerous other countries will be transferred as part of the agreement. HUL will continue to run the company up until the deal is finished, and the transaction is subject to the usual closing conditions.

This news is written by Mr. Manpreet Rathor, Research Assistant, All India Legal Forum.


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