Hindustan Unilever sells Annapurna to Singapore-based corporation

Hindustan Unilever (HUL) has sold its non-core atta (flour) and salt brands, Captain Cook and Annapurna, to subsidiaries of a Singapore-based corporation.The brands are being sold to Uma Global Foods and Uma Consumer Products, which are Reactivate Brands International subsidiaries and a partner of CSAW Aqbator (Singapore), for Rs 60.4 crore, a price that represents a nearly 50% discount from the combined brands' projected 2021–22 turnover of Rs 127 crore.

HUL's CEO and MD Sanjiv Mehta stated: "Launched more than two decades ago, Anna- purna and Captain Cook en- joy strong equity Given our strategic priorities and portfolio choices, we believe it is in the best interest to sell these brands to Reactivate Brands International, which is well positioned to unlock their full potential."

Umesh Shah, the CEO of Unilever International, is the co-founder of Reactivate Brands International.