HUL to sell Annapurna, Captain Cook brands for ₹60.4 crore

Uma Global Foods and Uma Consumer Products are subsidiaries of Singapore-based Reactivate Brands International 60.4 crores by the company.

The sale includes trademarks, copyrights and other intellectual property and any exclusive assets and contracts associated with Annapurna and Captain Cook, Hindustan Unilever said (HUL,

“Hindustan Unilever Limited (the “Company”) entered into definitive documents (“Transaction Documents”) for the sale and divestment of the “Annapurna” and “Captain Cook” brands in the “Atta & Salt” categories of the Food Business of the Company HUL said in its filing, the trademarks, copyrights and other intellectual property and any exclusive assets and contracts associated with Uma Global Foods Pte Ltd and Uma Consumer Products Pvt Ltd, affiliates/designated brands of CSAW Exuberant Pte Ltd.

The transaction is expected to be completed in 90 days, subject to fulfillment of terms and conditions

The turnover of Annapurna and Thomas Cook brands for FY 21-22 was 127 crores, which is about one per cent of HUL turnover.

HUL said the disinvestment decision is in line with its stated intention to ‘exit non-core categories’ while continuing with its growth agenda in the packaged food business of dressings, scratch cooking and soups.

“Launched more than two decades ago, Annapurna and Captain Cook enjoy strong equity. Given our strategic priorities and portfolio choices, we believe it is in the best interests of the business to sell these brands to Reactivate Brands International.” which is well positioned to unlock their full potential,” said Sanjiv Mehta, CEO and MD of HUL.

HUL said its standalone net profit rose year-on-year (YoY) to 11.6% for the third quarter ended December 2022. 2,505 crores. the firm reported profit 2,243 crore in the corresponding quarter of the previous year.

The company’s stock closed down by 0.48 percent. 2,515 on BSE.