Hindustan Foods Ltd Successfully Completes Acquisition of Reckitt's Facility

Hindustan Foods Limited (HFL) announced the completion of the acquisition of the manufacturing facility owned by Reckitt Benckiser Healthcare India Private Limited (Reckitt). The facility is located at Khasra No. 701/534, Vill Sandholi Baddi, Nalagarh Road, P.O. Baddi, Tehsil Nalagarh, Distt Solan- 173205, Himachal Pradesh, India. The transaction was finalized today, on December 16, 2023, for a final cash consideration of Rs. 127.75 Crore (Rupees One Hundred Twenty-Seven Crore and Seventy-Five Lakh Only). This completion adheres to the terms and conditions outlined in the Business Transfer Agreement (BTA) dated December 15, 2022, along with any subsequent amendments, between HFL and Reckitt.

The strategic acquisition represents HFL's entry into the manufacturing segment and signals the expansion of its business into a diverse range of pharmaceutical and non-pharmaceutical products. The move also encompasses a broad spectrum of over-the-counter (OTC) health and wellness products, along with skin creams, enhancing HFL's portfolio in the consumer healthcare sector.

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