HUL Signs Agreement To Acquire Milk Ice Cream Business From Vijaykant Dairy
Hindustan Unilever Limited (HUL) announced that it has signed an agreement with Vijaykant Dairy and Food Products Limited (VDFPL) and its group company to acquire its ice cream and frozen desserts business consisting of its flagship brand 'Adityaa Milk' and front end distribution network across geographies.
The proposed acquisition is in line with HUL's strategic intent to strengthen its position in the rapidly growing ice Cream and Frozen Dessert market in India.
The transaction is subject to fulfilment of certain conditions and the parties will work together to complete this over the next few months. VDFPL will manage the business until the transaction is completed, and will also continue to manufacture for HUL for an agreed period of time.