Hindustan Foods Limited entered into a business transfer agreement to acquire Manufacturing Facility Of Reckitt Benckiser Healthcare India Limited at khasra for INR 1.6 billion.

Hindustan Foods Limited (BSE:519126) entered into a business transfer agreement to acquire Manufacturing Facility Of Reckitt Benckiser Healthcare India Limited at khasra for INR 1.6 billion on December 15, 2022. The consideration is paid in cash. The transaction requires approval of the State Government for transfer of land forming part of the Undertaking and other customary approvals as required in relation to transfer of licenses/permissions etc.

Subject to fulfilment of the conditions precedent set out under BTA, the acquisition of the sale, subject to certain customary/usual adjustments in accordance with the terms and conditions set out in the BTA. Transaction is expected to be completed by H2 of calendar year 2023. As per the Hindustan Foods earnings call held on August 16, 2023, acquisition of the Baddi factory is delayed due to the statutory approvals and is expected to close towards the end of Q3 FY '24.