Hindustan Foods has signed a term sheet for buying movable assets and stocks in respect of the footwear manufacturing business of G Shoe Export.
The takeover is in line of the company's long term goals and it will further strengthen the existing footwear manufacturing business of the company which was started last year by acquiring movable assets and stocks from Ponds Export, a HUL Subsidiary.
In addition, the company will also acquire G Shoe Export's domestic brand called ESTD 1977.
Hindustan Foods manufactures high quality cereal based food products and a range of instant mixes, baby foods, instant porridges, breakfast cereals and health drinks.
