Hindustan Unilever Limited (HUL) has entered into an agreement for selling its salt and atta business that is operated under the brand names Annapurna and Captain Cook for INR 60.4 million.

The brands are being sold by the fast-moving consumer goods (FMCG) company to Uma Global Foods and Uma Consumer Products, which are subsidiaries of Reactivate Brands International, a Singapore-based company and an affiliate of CSAW Aqbator Pte Ltd. (Singapore).

CSAW has a focus on buying and sizing up food brands that encourage affordable wellness.

Ashok Vasudevan — Uma Global Foods Co-Founder said: “We are delighted to bring Annapurna and Captain Cook into our portfolio. Both these brands have a long history of providing high quality food products to Indian consumers.

“We are confident of scaling them up and expanding globally, leveraging founders’ experience. These brands fit well with our mission to promote affordable wellness.”

The decision of Hindustan Unilever to divest the Annapurna and Captain Cook brands aligns with its stated intention of quitting from non-core segments while continuing to push its growth plans in the business of packaged foods of scratch cooking, dressings, and soups.

The transaction will involve the transfer of copyrights, trademarks, and other intellectual property that are associated with India as well as other countries.

Sanjiv Mehta — Hindustan Unilever CEO and Managing Director said: “Launched more than two decades ago, Annapurna and Captain Cook enjoy strong equity. Given our strategic priorities and portfolio choices, we believe it is in the business’ best interest to sell these brands to Reactivate Brands International, which is well-positioned to unlock their full potential.”

The deal is subject to the usual closing conditions and Hindustan Unilever is expected to continue to run the Annapurna and Captain Cook brands up to the end of the transaction.

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