HFL has also entered into a supply agreement on October 26 for supply of pest products
FMCG firm Hindustan Foods (HFL) said it will acquire the pest products manufacturing factory of Reckitt Benckiser India (RB) at Samba, Jammu as a going concern on a slump sale basis. 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.
Company said in a BSE filling “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”.
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.
Last December, company took over a Hindustan Unilever enterprise, Ponds Exports Ltd, engaged in leather business.
HFL MD Sameer Kothari said "We are confident of achieving a minimum top line of Rs 125 crore from this acquisition."