Hindustan Foods Limited 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/- 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.