Hindustan Foods (HFL) has executed a Share Purchase Agreement (SPA) on October 23, 2023 with KNS Shoetech (KNS Shoetech) to acquire 100% Share Capital of KNS Shoetech.
The acquisition of the Shares of KNS Shoetech is in line with the company’s strategy to enter into Contract Manufacturing and expansion of its business into Sports Shoes. This acquisition will kickstart HFL’s journey in this industry and company is looking forward to strengthening its position in the future by additional capex and expansion. India is one of the largest markets for sports shoes in the Asia-Pacific region. The industry comprises both domestic and international players, with brands like Nike, Adidas, Puma, Reebok, and domestic brands like Bata and Lakhani, among others.
Post completion of the transactions contemplated under the SPA, the company shall hold 100% of the total Share Capital of KNS Shoetech, thereby will become the wholly owned Subsidiary of the Company.
Hindustan Foods specializes in setting up one-stop contract manufacturing solutions and the ability to consistently deliver quality products.
