Tag: Hindustan Unilever

Hindustan Unilever appoints veteran executive Srinandan Sundaram as head of Foods & Refreshment

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INDIA – Hindustan Unilever, one of the leading consumer goods company in India , has appointed Srinandan Sundaram as the new Executive Director, Foods and Refreshment. Sundaram whose appointment takes effect as from July 1, 2021 Sundaram replaces Sudhir Sitapati who is leaving the organization after 21 years. Sudhir joined Hindustan Unilever in 1999 as a management trainee, successfully managed roles across Sales and Marketing with the most recent one being Executive Director Foods and Refreshment. He is credited for the transformation of Tea into a purpose-led category that regained…

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Hindustan Unilever to be plastic waste-neutral this year even as it parent company reaps from sustainability efforts

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INDIA – Hindustan Unilever(HUL), the Indian subsidiary of the British multinational CPG company Unilever, has said that it will achieve 100% plastic waste collection this year. To achieve this, the fast moving consumer goods giant says it will collect and process 100,000 tonnes of plastic- more plastic packaging waste than what it uses. Last year, HUL had collected and facilitated environmentally safe disposal of almost 60,000 tonnes of plastic waste. The company is now scaling up its efforts by committing to collect 40,000 additional tonnes of post-consumer plastic waste. “We…

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Unilever’s Indian unit completes mergers with GlaxoSmithKline Consumer Healthcare

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INDIA – Unilever has announced that Hindustan Unilever Limited (HUL), the company’s listed subsidiary in India, has successfully completed the merger of GSK’s business in India, GlaxoSmithKline Consumer Healthcare. The consolidation follows HUL’s acquisition of Horlicks brands rights and other consumer healthcare nutrition products in India and other markets for cash proceeds equivalent to US$493 million. The transaction was previously announced in December 2018 as part of HUL’s strategy to evolve the foods and refreshment portfolio into higher growth segments. The deal included an all-equity merger of with the publicly…

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Unilever to acquire Horlicks and GSK’s nutrition business for US$3.8b

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INDIA – The global consumer goods leader, Unilever has agreed to acquire malted drinks brand, Horlicks and other GlaxoSmithKline’s Indian consumer healthcare products in a transaction worth US$3.8 billion (3.3 billion Euros). The transaction will also see Hindustan Unilever (HUL), Unilever’s operating arm and India’s largest consumer goods company merge its operations with GlaxoSmithKline Consumer business. The announcement marks an end to a competitive race in which Unilever has prevailed over its rival Nestle as well Coca-Cola who had earlier shown a strong interest in Horlicks stake. According to Unilever,…

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Nestle ahead of Unilever in final race to acquire GSK’s nutrition business in India

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INDIA – Nestle SA, the Swiss transnational and the world’s largest food company is contending Unilever in the final round of negotiations to acquire GlaxoSmithKline’s consumer nutrition business in India. According to three people aware of the development, cited by ET Retail, Nestle is believed to be the frontrunner with a more aggressive offer after Coca-Cola, the third contender selected for the protracted due diligence process opted out. The bid for GSK’s consumer nutrition business has attracted the interest of some of the biggest food and beverage manufacturers in the…

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Hindustan Unilever posts 19.5% rise in profit to US$207m in second quarter

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INDIA – Mumbai based consumer goods company, Hindustan Unilever has reported a 19.51% increase in net profit to US$207.33 million on account of double-digit growth across categories in the second quarter. According to the company’s regulatory filings, sales during the quarter under review stood at US$1.24 billion against US$1.11 billion in the year-ago period, up 11.45%. HUL Chief Financial Officer Srinivas Phatak said while the company expects the demand to be stable in the near term, the company will watch out for currency depreciation and crude price increase. He said…

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HUL signs agreement with Vijaykant Dairy to acquire Adityaa Milk ice cream business

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INDIA – Hindustan Unilever Limited (HUL), a consumer goods company, has announced that it has signed an agreement with Vijaykant Dairy and Food Products Limited (VDFPL) and its group company to acquire its ice cream and frozen desserts business consisting of its flagship brand ‘Adityaa Milk’ and front end distribution network across geographies. According to the company, the proposed acquisition is in line with HUL’s strategic intent to strengthen its position in the rapidly growing Ice Cream and Frozen Dessert market in India. Adityaa Milk is a fast-growing brand and…

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