HUL has announced signing an agreement with Vijaykant Dairy and Foods products (VDFPL) to acquire its ice cream and frozen desserts business consisting of flagship brand â€˜Adityaa Milkâ€™ and front end distribution network across geographies.
The proposed acquisition is in line with HULâ€™s strategic intent to strengthen its position in rapidly growing ice cream and frozen dessert market.
VDFPL will manage the business until the transaction is completed.
HUL is already a strong number two player in Ice Cream and this acquisition will help in closing the gap with Amul (current number one player). HUL will bring its distribution strength and analytics capability to Adityaa. The Adityaa brand was established in 2004, and over the last five years has successfully expanded into ice creams and frozen desserts. It has roots in Karnataka and has gradually expanded into Maharashtra, Goa and Kerala.
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