Hindustan Foods completes acquisition of Reckitt Benckiser Scholl India Pvt Ltd

Hindustan Foods Limited ("HFL" or "the Company") has completed today i.e. July 1, 2022, the acquisition of 100% Equity Share Capital of Reckitt Benckiser Scholl India Private Limited ("RBSIPL") for a cash consideration of Rs. 74,89,27,706/- (Rupees Seventy-Four Crores Eighty-Nine Lakhs Twenty Seven Thousand Seven Hundred and Six only) as per the terms and conditions of the Share Purchase Agreement dated January 24, 202 2 including amendments thereof (if any) entered between the Company and Reckitt Benckiser (India) Private Limited ("Sellers").

Post completion of aforesaid acquisition, "RBSIPL" has become a wholly-owned Subsidiary of the Company w.e.f. July 1, 2022.

This acquisition marks an entry of HFL into the new segment of manufacturing of OTC Healthcare and Wellness Products which is very fast growing and attractive as consumers are increasingly becoming more aware about preventive healthcare solutions for their wellbeing.

Shares of Hindustan Foods Limited was last trading in BSE at Rs. 1724.05 as compared to the previous close of Rs. 1753.45. The total number of shares traded during the day was 253 in over 73 trades.

The stock hit an intraday high of Rs. 1784.00 and intraday low of 1721.05. The net turnover during the day was Rs. 442078.00.

Source : Equity Bulls

Keywords

HindustanFoods INE254N01018 Acquisition ReckittBenckiserSchollIndia