Business

MDH Denies Any Action To Sell Business To Hindustan Unilever


MDH has denied reports of the sale of the business to Hindustan Unilever

New Delhi:

Leading spice producer MDH Limited has denied reports of a possible sale of its business to main FMCG Hindustan Unilever Limited (HUL).

The report suggests that MDH organizers are in talks to sell their business to HUL.

Terming such reports as “completely false, fabricated and baseless”, MDH in a message posted on its official Twitter account urged the public “not to believe such rumors”.

“MDH Pvt Ltd is a legacy, nurtured by Mahashay Chimi Lal Ji and Mahashay Dharampal Ji throughout their lives, and we are committed to bringing that legacy forward wholeheartedly,” said a message from MDH Chairman Rajeev Gulati.

HUL, which owns popular household brands such as – Lux, Lifebuoy, Surf Excel, Rin, Wheel, Ponds – declined to comment on the issue.

“We are not commenting on market speculation,” a HUL spokesman said.

A report has claimed that HUL is in talks with Delhi -based Mahashian Di Hatti Private Limited (MDH) to buy a majority stake.

It further claimed that the value of the deal may be between Rs 10,000 to Rs 15,000 crore. However, MDH rejects any such consideration.

Recently some of the leading FMCG players such as ITC and Tata Consumers Private Limited have stepped up their game into the spice segment, which is considered a high margin business.

In 2020, ITC has acquired Sunrise Foods – a leading player in the spice market in East India, in a deal of Rs 2,150 crore.

Dharampal Gulati, who had brought the family company from Sialkot in Pakistan to India after the Partition, and transformed a business empire worth over a thousand crore, died in December 2020.

After that, the business is passed on to the next generation.

MDH has a range of over 60 products. The spices are also exported to several countries.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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