MUMBAI: Hindustan Foods Limited (HFL), a leading contract manufacturer in the FMCG and consumer goods sector, has approved a Rs 30 crore investment through its wholly owned subsidiary to acquire a business engaged in the manufacturing of ice cream cones and sleeves. The move marks HFL’s entry into cone manufacturing, with a production capacity of nearly 1 million cones per day. Current clients include India’s largest multinational ice cream company.
HFL’s ice cream division president Manojkumar Patani said, “The recent changes in GST rates on ice creams have created structural tailwinds for this category, and we believe our ice cream division can be a significant growth driver. This acquisition complements nearly Rs 250 crore in planned investments this year to set up greenfield ice cream plants and expand our footprint in the Indian ice cream industry.”
The acquired business is strategically located near HFL’s new ice cream plant, enabling potential operational synergies. Along with the commercialisation of the ice cream stick factory in Lucknow, this investment positions HFL to meet growing customer demand for the upcoming season.
Patani added, “We look forward to leveraging the expertise of the acquired businesses to grow our cone manufacturing alongside our ice cream operations, ensuring we continue to deliver value to our customers and strengthen our market presence.”
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