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Godfrey Phillips India executes agreement to sell Chewing business

13 Oct 2022 Evaluate

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.

Godfrey Phillips Ind Share Price

2133.40 -9.60 (-0.45%)
07-Jul-2026 16:59 View Price Chart
Peers
Company Name CMP
ITC 288.90
Godfrey Phillips Ind 2133.40
VST Industries 267.50
Indian Wood Products 33.04
NTC Industries 145.45
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