Hindustan Unilever said it is selling its non core atta and salt business under the brands Annapurna and Captain Cook to Reactivate Brands International, a Singapore-headquartered company for Rs 60.4 crore.

The deal includes transfer of trademarks, copyrights and other intellectual properties associated with India and several other geographies. HUL will continue to manage the business until the completion of the transaction, expected to be in three months.

HUL’s decision to divest is in line with the stated intent of exiting non-core categories while continuing to drive its growth agenda in the packaged foods business of dressings, scratch cooking and soups, it said.

“Launched more than two decades ago, Annapurna and Captain Cook enjoy strong equity. Given our strategic priorities and portfolio choices, we believe it is in the business’ best interest to sell these brands to Reactivate Brands International, which is well-positioned to unlock their full potential,” said Sanjiv Mehta, CEO and Managing Director of HUL.

The brands, which posted annual sales of Rs127 crore during FY22, are being sold to Uma Global Foods Pte Ltd., and Uma Consumer Products Private Ltd. which are subsidiaries of Reactivate Brands and an affiliate of CSAW Aqbator Pte Ltd which is focused on acquiring and scaling up food brands to promote affordable wellness.

“We are delighted to bring Annapurna and Captain Cook into our portfolio. Both these brands have a long history of providing high quality food products to Indian consumers. We are confident of scaling them up and expanding globally, leveraging founders’ experience. These brands fit well with our mission to promote affordable wellness,”