Hindustan Unilever Limited (HUL) has announced that it will sell the Annapurna and Captain Cook brands to Reactivate Brands International. This move is in line with HUL’s strategy to exit non-core categories while focusing on its growth agenda in the packaged foods business, including dressings, scratch cooking, and soups.
The deal will involve the transfer of trademarks, copyrights, and other intellectual properties associated with the brands in India and other regions. HUL will continue to manage the business until the completion of the transaction, which is subject to customary closing conditions.
Sanjiv Mehta, CEO and Managing Director of HUL, stated that the decision to sell the brands was in the best interest of the business. Ashok Vasudevan, Co-Founder of Uma Global Foods, expressed enthusiasm for the acquisition of the brands and is confident in the company’s ability to scale and expand them globally, while promoting affordable wellness.
