Hindustan Foods Ltd to acquire Aero Care Personal Products LLP

Hindustan Foods Ltd has executed an LLP Agreement and other definitive agreements to acquire 100% Partnership Interest on 11th February, 2022, which is effective from 1st January, 2022 in Aero Care Personal Products LLP ("ACPPL") for the purchase of entire Partnership Interest of ACPPL. Pursuant to the completion of the above transactions contemplated, the Company shall hold 100% of the Partnership Interest in ACPPL.

Aero Care Personal Products LLP ("ACPPL") is a Limited Liability Partnership engaged in the business of Manufacture and Trade of Cosmetics, Personal care and Toiletries products.

The acquisition of the Partnership Interest of ACPPL is in the line with the Company's announcement to enter into the Contract Manufacturing and expansion of its business into Colour Cosmetics, Personal Care and Toiletries. products. The Company has identified ACPPL as a suitable acquisition target for further business opportunities in this segment.

The aggregate cost of acquisition of shares is upto INR 30 Crores, payable in multiple tranches and subject to certain postcompletion adjustments in accordance with the terms and conditions set out in the LLP Agreement and other definitive agreements.

Shares of Hindustan Foods Limited was last trading in BSE at Rs. 1996.80 as compared to the previous close of Rs. 2014.65. The total number of shares traded during the day was 517 in over 198 trades.

The stock hit an intraday high of Rs. 2015.95 and intraday low of 1971.70. The net turnover during the day was Rs. 1036851.00.

Source : Equity Bulls

Keywords

HindustanFoods INE254N01018 HNDFDS Acquisition