Hindustan Foods Ltd Approves Rs. 30 Crore Investment in Strategic Acquisition
The Board of Directors of Hindustan Foods Limited (HFL) has approved an investment of Rs. 30 Crore through its wholly owned subsidiary company for the acquisition of a business engaged in manufacturing of Ice cream cones and sleeves. This acquisition marks HFL’s foray into cone manufacturing with a capacity of nearly 1 million cones per day. The current customers of the acquired business include India’s largest multinational ice cream company. The investment is strategic as it aligns with HFL’s commitment to expanding its footprint in the Indian ice cream industry and leveraging the expertise and capabilities of the acquired businesses to further grow the cone manufacturing business alongside its ice cream manufacturing business.
Key Highlights
- HFL to invest Rs. 30 Crore in strategic acquisition of ice cream cone manufacturing and sleeve printing business.
- Acquisition marks HFL’s foray into cone manufacturing with a capacity of nearly 1 million cones per day.
- Current customers of the acquired business include India’s largest multinational ice cream company.
- Investment aligns with HFL’s commitment to expanding its footprint in the Indian ice cream industry.
- Acquired business's expertise and capabilities to be leveraged to grow the cone manufacturing business alongside the ice cream manufacturing business.