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March 18, 2016

Unilever sells Indian rice brands Indus Valley, Rozana to LT Foods

Hindustan Unilever, the Indian unit of Unilever, has struck a deal to sell its rice export business, which includes the brands Gold Seal Indus Valley and Rozana, to LT Foods Ltd. 

Hindustan Unilever, the Indian unit of Unilever, has struck a deal to sell its rice export business, which includes the brands Gold Seal Indus Valley and Rozana, to LT Foods Ltd. 

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LT Foods, which owns the Daawat rice brand, will pay INR250m (US$3.7m) for the rice business. 

Gold Seal Indus Valley is present in 21 countries across regions including the Middle East and Europe. Indus Valley operates in the premium segment, while Rozana is a mid-priced Basmati rice. The brands registered turnover of INR510m in fiscal 2014-15. 

Unilever said the decision to divest was “in line” with its strategy to exit non-core businesses while continuing to grow its “core packaged foods” interests. 

Sanjiv Mehta, CEO and managing director of Hindustan Unilever, said: “Over the years, Gold Seal Indus Valley and Rozana have become household names in the rice category across the overseas markets in which they operate. The brands enjoy strong equity and have been delighting consumers through a range of high quality offerings in basmati rice. Given the context of our portfolio priorities, we believe that it is in the best interest of the business to sell these brands to a strategic player such as LT Foods, who is capable and well positioned to unlock their full potential.”

Last month, Indian newspaper The Economic Times claimed Hindustan Unilever was looking to sell a clutch of food brands in the country. The report said the company might offload atta, rice and salt brands as part of moves to focus on fewer food products.

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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