The Board of Hindustan Foods Limited (HFL), has approved an investment of Rs. 30 Cr for the acquisition of a business engaged in manufacturing of ice cream cones and sleeves.
- Target has capacity of 1 million cones per day.
- It’s current customers include India’s largest multinational ice cream company.
- Acquisition aligns with HFL’s strategy of expanding into the ice cream business.
- Its has Rs 250 cr of investments planned in this year in setting up greenfield ice creams plants.
- The target is located close to one of the new plants being set up by HFL and is therefore synergetic.