HUL, which stands for Hindustan Unilever Limited, is a major Fast-Moving Consumer Goods (FMCG) company in India. The company was established in 1933 and has since grown to become the largest FMCG company in India. HUL offers a range of products, including personal care, home care, food and refreshments, and water purifiers.
In a recent announcement, HUL shared its plans to sell its non-core atta and salt business carried out under the ‘Annapurna’ and ‘Captain Cook’ brands to Singapore-based Uma Global Foods for Rs 60.4 crore. The sale agreement includes the transfer of trademarks, copyrights, and other intellectual properties associated with India and several other geographies.
The financial report, said, “The brands are being sold to Uma Global Foods Pte Ltd, and Uma Consumer Products Private Ltd. which are subsidiaries of Reactivate Brands International, a Singapore-headquartered company and an affiliate of CSAW Aqbator Pte Ltd (Singapore),”.
Sanjiv Mehta, CEO & Managing Director, Said, “Given our strategic priorities and portfolio choices, we believe it is in the business’s best interest to sell these brands to Reactivate Brands International, which is well-positioned to unlock their full potential.”
Ashok Vasudevan, Co-founder of Uma Global Foods, said, “We are confident of scaling them up and expanding globally, leveraging founders’ experience. These brands fit well with our mission to promote affordable wellness.”
HUL’s decision to sell the ‘Annapurna’ and ‘Captain Cook’ brands aligns with its strategy to focus on its core business and exit from non-core business operations. According to HUL, both brands had a turnover of Rs 127 crore in the financial year 2021-22, which is less than one per cent of HUL’s overall turnover.
On the other hand, Uma Global Foods is focused on acquiring and scaling up food brands to promote affordable wellness. With the acquisition of the ‘Annapurna’ and ‘Captain Cook’ brands, Uma Global Foods aims to strengthen its presence in the food industry.
HUL’s sale of its ‘Annapurna’ and ‘Captain Cook’ brands to Uma Global Foods is part of its strategy to exit from non-core business operations and focus on its core business. Uma Global Foods, on the other hand, aims to strengthen its presence in the food industry through the acquisition of these brands.
