Godfrey Phillips India has executed agreement on October 11, 2022 with Vishnu & Company Trademarks and its wholly owned subsidiary VLS Innovations (both these parties hereinafter collectively referred to as the 'Purchaser) to sell/assign trademarks along with all the rights, titles and interests therein and certain non-current assets including the rights in the Leasehold Land; used in relation to the Chewing business of the Company for an aggregate sale consideration of Rs 80 crore.
This sale/assignment is in line with the Company's decision to exit from its Chewing business which was incurring losses and constituted less than 2% of the total operating revenues of the Company in the financial year 2021-22. The Purchaser and its affiliates are engaged in the business of Chewing Products such as pan masala, flavoured elaichi and chewing tobacco through its various brands and is not a 'Related Party' to the Company.
Godfrey Phillips India, a flagship company of the Modi Enterprises, is one of India's largest cigarette manufacturers. It makes some of the best cigarette brands in the country including Four Square, Red & White, and Cavanders.
| Company Name | CMP |
|---|---|
| ITC | 275.65 |
| Godfrey Phillips Ind | 2135.70 |
| VST Industries | 215.40 |
| Indian Wood Products | 35.18 |
| NTC Industries | 142.10 |
| View more.. | |
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