| Hindustan Foods announced a significant move to bolster it sports shoe manufacturing business through the acquisition of a sports shoe manufacturing unit situated in Kundli, Haryana.
This strategic development is facilitated by its wholly owned subsidiary, KNS Shoetech (KNS), and is formalized through a Business Transfer Agreement (BTA).
The acquisition, valued at approximately Rs. 30.72 crore (subject to closing adjustments), marks a pivotal step in the company's expansion efforts within the sports shoes segment.
In alignment with its earlier announcement in October, where the company unveiled plans to invest up to Rs. 100 crore in the sports shoes manufacturing domain, Hindustan Foods had also disclosed the acquisition of 100% shareholding in KNS. This move underscores the company's commitment to fortifying its presence in the everexpanding sports shoes market.
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