Hindustan Foods to foray contract manufacturing with acquisition of Reckitt's Baddi unit

For cash consideration of Rs 156 cr

Hindustan Foods will acquire manufacturing facility of Reckitt Benckiser Healthcare India located at Baddi, Himachal Pradesh on slump sale and going concern basis for a cash consideration of Rs 156 crore.

This acquisition is in line with the company's strategy to enter contract manufacturing and expansion of its business into various pharmaceutical and non-pharmaceutical. The acquisition is expected to be completed by H2 of calendar year 2023.

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