Hindustan Foods Limited (HFL) has executed Business Transfer Agreement (BTA) for acquisition of Reckitt Benckiser Health India Private Limited’s (Reckitt) manufacturing facility in Village Sandholi, Baddi, Himachal Pradesh as a move to further expand its Health Care & Wellness division.
Upon completion, this acquisition will further enhance the company’s offerings in the OTC Healthcare and Wellness segment, a statement said.
The manufacturing facility is into manufacturing of vast variety of OTC health and wellness products and skin creams including some of Reckitt’s key products. It is a state‐of‐the‐art facility with modern equipment and machinery and at par with global standards and adheres to the US FDA & MHRA, Russia GMP norms, the statement said.
All employees pertaining to the Sale Business as defined under BTA will be transferred to HFL as part of the acquisition with continuity of employment. Upon Completion, HFL would manufacture various products for Reckitt and its affiliates in India and abroad. The acquisition also provides HFL an opportunity to leverage idle capacity for better utilization and incremental profits, according to the statement.
Sanjay Sehgal, President, Healthcare & Wellness Division, Hindustan Foods Limited said, “We are happy with this acquisition that enables us to further expand our offerings in the OTC Healthcare and Wellness segment, as a contract manufacturer. Baddi is India’s prime pharma manufacturing hub and this facility provides HFL a cutting edge manufacturing set up with multiple global and domestic certifications. Idle capacity can be deployed profitably to service new customers, and we are confident of scaling this business and delivering efficiently to our customers worldwide.”
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.