Hindustan Foods Subsidiary Acquires Ice-Cream Cone Facilities for INR 26 Crores
Filing Summary
Hindustan Foods Limited, through its wholly owned subsidiary HFL Consumer Products Private Limited, has executed a Business Transfer Agreement to acquire manufacturing facilities from M/s. Ashish Industries and M/s. Vijay. The acquisition, valued at INR 26.25 Crores, involves facilities located in Nashik engaged in ice-cream cone manufacturing and related packaging. The transaction is structured as a slump sale on a going concern basis, with completion expected by the third quarter of FY 2025-26, subject to customary approvals and conditions outlined in the agreement.
Hindustan Foods Limited, through its wholly owned subsidiary HFL Consumer Products Private Limited (HCPPL), has entered into a Business Transfer Agreement (BTA) for the acquisition of manufacturing facilities from M/s. Ashish Industries and M/s. Vijay. These facilities, located at Plot No G-21 and Plot No A-42 in MIDC, Malegaon, Sinnar, Nashik, are involved in the manufacturing of ice-cream cones, sleeve printing, and packaging. The acquisition is structured as a slump sale on a going concern basis, with the transaction formalized on November 11, 2025.
The financial terms of the acquisition involve a cash consideration of INR 20 Crores to M/s. Ashish Industries and INR 6.25 Crores to M/s. Vijay, totaling INR 26.25 Crores. The transaction is subject to customary adjustments as per the conditions set out in the BTA. The acquisition does not fall under related party transactions, and there is no interest from the promoter group of Hindustan Foods Limited in the entities being acquired.
The scope of the acquisition includes the transfer of business undertakings engaged in the manufacturing of ice-cream cones and related packaging operations. The facilities are identified as suitable targets for HFL’s strategic entry into contract manufacturing and expansion into the ice-cream cone sector. The acquisition aligns with HFL’s announced intention to invest up to INR 30 Crores in this line of business, enhancing its manufacturing capabilities in this sector.
The completion of the transaction is contingent upon obtaining customary approvals related to the transfer of licenses and permissions under applicable laws. The acquisition is expected to be finalized by the third quarter of FY 2025-26, subject to the fulfillment of conditions precedent outlined in the BTA.
Hindustan Foods Limited is a prominent player in the contract manufacturing sector, focusing on expanding its capabilities and market presence. The company is strategically investing in new business lines to enhance its product offerings and operational footprint.