Hindustan Unilever Ltd.

Hindustan Unilever (HUL) has received an approval from fair trade regulator Competition Commission of India (CCI) to sell its rice exports business to Delhi-based LT Foods. The company’s decision to sell the business is in line with its strategy to exit non-core operations while continuing to drive its growth agenda in the core packaged foods segment.

The deal, announced in March, allows transfer of the brands and inventory to LT Foods for Rs 25 crore, which owns Dawat basmati rice brand. The rice export business, primarily carried out under the brands Gold Seal Indus Valley and Rozana, will be sold to LT Foods Middle East DMCC, a group company of LT Foods.

Hindustan Unilever is India’s largest Fast Moving Consumer Goods Company with a heritage of over 80 years in India and touches the lives of nine out of ten Indian households.