Marico sells food brand to Danish Co
MUMBAI: Marico Ltd has announced the sale of its processed foods business under the brand "Sil" to a Danish business house, Good Food Group, for an undisclosed amount.
The deal envisages a sale of Marico's Sil business to the Indian subsidiary of Good Food Group A/S, Scandic Food India Pvt Ltd (Scandic).
The divestment is on a slump sate basis and includes the manufacturing facility at Saswad, near Pune. Scandic will take on board the present employees at Marico's facility. Marico will distribute the Sil range of products for Scandic for a period of one year.
MUMBAI: Marico Ltd has announced the sale of its processed foods business under the brand "Sil" to a Danish business house, Good Food Group, for an undisclosed amount.
The deal envisages a sale of Marico's Sil business to the Indian subsidiary of Good Food Group A/S, Scandic Food India Pvt Ltd (Scandic).
The divestment is on a slump sate basis and includes the manufacturing facility at Saswad, near Pune. Scandic will take on board the present employees at Marico's facility. Marico will distribute the Sil range of products for Scandic for a period of one year.