Hindustan Foods Ltd Subsidiary Acquires Manufacturing Facility for INR 29.5 Crores
HFL Multiproducts Private Limited, a wholly owned subsidiary of Hindustan Foods Limited, has executed a Business Transfer Agreement (BTA) with MMG Enterprises Private Limited and its promoter to acquire a manufacturing facility situated at IDCO Plot No B/6, Food Processing Park, Makundaprasad, District Khurda, Odisha 752 055. The facility is engaged in the business of manufacturing, processing, and packaging of bottled water including all their Components thereof. The acquisition is in line with HFL’s strategy to enter Contract Manufacturing and expansion of its business into bottled water including all its components. The transaction is expected to be completed by the 1st Quarter of FY 2025-26 for a cash consideration of INR 2,95,000,000/- (Rupees Twenty Nine Crores and Fifty Lakhs only).
Key Highlights
- HFL Multiproducts Private Limited, a wholly owned subsidiary of Hindustan Foods Limited, is acquiring a manufacturing facility from MMG Enterprises Private Limited.
- The facility is located at IDCO Plot No B/6, Food Processing Park, Makundaprasad, District Khurda, Odisha 752 055 and is engaged in the business of manufacturing, processing, and packaging of bottled water including all their Components thereof.
- The transaction is expected to be completed by the 1st Quarter of FY 2025-26 for a cash consideration of INR 2,95,000,000/- (Rupees Twenty Nine Crores and Fifty Lakhs only).
- The acquisition is in line with HFL’s strategy to enter Contract Manufacturing and expansion of its business into bottled water including all its components.
- The transaction is subject to customary approvals as required in relation to transfer of licenses/permissions etc. under applicable laws.