Hindustan Foods Board Approves Acquisition Of Saucery Foods & HUL Manufacturing Unit
Hindustan Foods Limited has informed that the board of directors of the company at its meeting approved the proposal to take over a factory in Hyderabad owned by one of the Promoter Group company. This factory manufactures around 75,000 tons of detergent powder with revenues of INR 250 Crores, for Hindustan Unilever Limited under the brand names of Rin, Wheel and surf. This integration marks a substantive move by HFL to position itself as one of the largest consumer contracting companies in India.
The Board of Directors also authorized the management to acquire a majority stake in Saucery Foods Private Limited, founded by Ms Gayatri Bhatia. The company is in the business of manufacturing and selling fresh dips and sauces under the brand name "Saucery".