Hindustan Foods’ wholly-owned subsidiary, KNS Shoetech, has engaged in a business transfer agreement (BTA) with SSIPL Retail (SSIPL), acquiring manufacturing units previously owned by SSIPL situated in Bangran and Bhagani in Himachal Pradesh, as well as Kundli in Haryana.
The total investment for this transaction exceeds Rs 100 crore, with the BTA valued at approximately Rs 77 crore. Completion of the sale business acquisition is anticipated by the first quarter of the financial year 2025.
These factories boast advanced facilities and a proficient team capable of meeting the demands of prominent multinational and domestic brands in the country. This acquisition aligns with KNS Shoetech’s growth strategy, reinforcing its manufacturing capabilities and expanding its presence in the industry. Notably, these facilities serve major brands such as Puma, Reebok, and Asics, among others.
SSIPL has emerged as a pioneer in the sector, having started manufacturing sports shoes and sneakers in 1995.
Hindustan Foods is a key supplier of packaged consumer goods to FMCG companies like Hindustan Unilever, Marico, and Danone. On the back of the Baddi acquisition and also this one, Hindustan Foods, it looks to meet the goal it has set for FY2025.
Source : Projects Today
