Unilever’s Indian subsidiary, Hindustan Unilever, has signed a deal to acquire the ice cream and frozen dessert business of Vijaykant Dairy and Food Products (VDFPL).
The acquisition includes VDFPL’s flagship brand Adityaa Milk and falls in line with Hindustan Unilever’s intent to strengthen its position in the rapidly growing Indian ice cream market.
The move complements Unilever Hindustan’s Kwality Wall’s ice cream brand and it is expected to benefit from synergies in the Indian states of Maharashtra, Goa, Karnataka and Kerala.
Adityaa Milk has a presence in dairy and dairy-based products, and over the last five years has expanded into ice creams and frozen desserts.
After the acquisition has been completed, VDFPL will continue to pursue its dairy business.
Hindustan Unilever managing director Sanjiv Mehta said: “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.”
The move continues Unilever’s expansion in India after its private equity arm Unilever Ventures led a funding round in grocery delivery service Milkbasket earlier this year.
In its most recent quarterly results, Unilever posted a 4.7% reduction in turnover as it was affected by challenging market conditions.
Source: FoodBev
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