HUL Buys Out Vijaykant Dairy’s Ice Cream & Frozen Desserts Brand
FMCG giant Hindustan Unilever Ltd (HUL) has claimed that it is acquiring ‘Adityaa Milk’ ice cream brand from Karnataka-based Vijaykant Dairy and Food Products Ltd. The financial details of the deal have however not been disclosed yet.
With this, HUL is planning to take over a larger part of the fragmented ice cream market in India. HUL has signed a contract with Vijaykant Dairy to buy out ice cream and frozen dessert business of the company and also with its front-end distribution across Karnataka, Maharashtra, Goa and Kerala where Adityaa Milk is currently present.
“Ice Creams and Frozen Desserts is an exciting category and we see great potential for growth. We believe the acquisition will complement our existing portfolio of Kwality Wall’s,” said HUL chairman Sanjiv Mehta.
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