Incorporated on 31st December, 1984 as a Public Limited Company, Hindustan Foods Limited (HFL) is promoted by Shashi K. Kalathil and Shrinivas V Dempo. The Company is primarily engaged in contract man
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ufacturing of FMCG products comprising primarily of home care, personal care, foods & refreshments including fruit juice and aerated juice, packing of tea and job working of shoes.
The Company came out with a Public Issue in Nov.'87 to set up a food-processing unit at Ponda, Goa, with a capacity of 5000 tpa. Commercial production commenced in Jan.'88 and the products were launched all over India only in Dec.'88 under the Bonny Mix brand name.
Glaxo which had participated in the equity of the company, apart from providing technical and marketing assistance to the company, withdrew their participation in 1992-93. The company was marketing its products under the brand name Bonny Mix, acquired from Glaxo. Due to the withdrawal of Glaxo, the company had a substantial fall in the sales volume, consequent to which, it started making losses. It had to close its operations from Dec.'92 which was resumed in Dec.'93. In 1994-95, HFL introduced two products - Bonny Meal Rice and Bonny Meal Fruit.
The company's products were not well-accepted by the consumers. The weak marketing at the retail level further aggrevated the situation and the consumer off-take was very poor. All these prompted the company to discontinue the production again, in Jul.'95. Reference was made to the BIFR, which has replied that the company has not yet come under its purview.
After the suspension of production since July'95, the company has resumed production from October'97. It has been producing the Farex cereal based weaning foods for Heninz India Private Limited which is marketed throughout India.
During the year 2013, the Promoter Group holding in the Company consisting of 37,22,294 equity shares held by M/s. V. S. Dempo Holdings Pvt. Ltd., M/s. Marmagoa Shipping & Stevedoring Co. Pvt. Ltd., M/s. Dempo Industries Pvt. Ltd., and M/s. Motown Investments Pvt. Ltd., were consolidated and transferred to M/s. Dempo Foods Pvt. Ltd. as inter se transfer amongst qualifying parties.
During the year 2014, Dempo Foods Pvt. Ltd., the Holding Company merged in Vanity Case India Pvt. Ltd., in terms of Bombay High Court Order dated 22 November, 2013. The Company started commercial production of snack food 'Kurkure' from February, 2014 for M/s. Pepsico India Holdings Pvt. Ltd. It entered into Manufacturing & Supply Agreement with M/s. Nutricia International Pvt. Ltd. to manufacture Weaning Cereals- Complimentary Foods. In 2015, it also got into Manufacturing & Supply Agreements with M/s. Mankind Pharma Ltd., and M/s. The Himalaya Drug Company.
In 2016, the Company launched their own product under the brand 'Cnergy' in the market, and manufactured and marketed its existing brand 'Bonny Mix' in the local market. In 2018, it launched leather brand 'Unorthodox', focusing on footwear and accessories and opened first store in Goa. With the focus on acquisitions and expansion, the Company acquired Reckitt Benckiser's pest control product manufacturing plant in Jammu & Kashmir and commenced production in year 2018. It also acquired another leather business, G Shoe Export, exporting shoes to high street brands like Dune, Bocage etc. to U.K., France and Italy.
The Board approved the Composite Scheme for Merger of another Vanity Case group's plant at Coimbatore manufacturing malted beverages viz. Horlicks and Boost for Hindustan Unilever and another merger of ATC Beverages Private Limited, manufacturing carbonated drinks and beverages in 2020. It started commercial production of liquid detergent at a manufacturing unit in Hyderabad in year, 2020.
The Mumbai bench of NCLT conveyed its approval for Scheme of Arrangement; for business combination of Detergent Manufacturing Unit of Avalon Cosmetics Private Limited (ACPL) with Hindustan Foods Limited (the Resulting Company or HFL) vide its Order dated November 25, 2019. The NCLT order along with the Scheme was filed with the Registrar of Companies, Mumbai, Maharashtra on December 27, 2019 which became effective from the Appointed Date, April 1, 2018.
During the year 2019-20, Company acquired 44.43% (i.e. 93,94,084 Equity shares) of the paid-up Equity shares of ATC Beverages Private Limited which manufactures a variety of juices and carbonated drinks and consequently, with this acquisition, ATC Beverages became an Associate Company of the Company.
The Company, after obtaining the approval of the Shareholders on January 4, 2020, purchased the businesses on slump sale basis from M/s Galaxy Healthcare Products and from M/s Shivom Industries (Shivom), a Partnership Firm, vide Business Transfer Agreements on February 24, 2020. The said business transfers were approved by the Board on November 11, 2019. The Board of Directors of Company approved a Composite Scheme of Arrangement and Amalgamation between Avalon Cosmetics Private Limited (The Demerged Company or ACPL), ATC Beverages Private Limited (The Transferor Company or ABPL) with) the Company (The Transferee Company or The Resulting Company or HFL) which inter alia provides for i) De-Merger of Coimbatore business of ACPL with the Company and ii) Merger of ABPL with the Company, from the Appointed date, April 1, 2020 and the Scheme became effective on February 18, 2022.
During the year 2022, effective January 1, 2022 since the Company acquired 100% Partnership interest in Aero Care Personal Products LLP, it had 100% Management control in the business of Aero Care. In year 2022, the Company invested in Aero Care Personal Products LLP, a unit which engaged in manufacturing various colour cosmetics like lipsticks, eye makeup, face powder, lip gloss, oral care and aftershaves and consequently, was taken over in January 2022. It merged Malted Beverages packaging unit in Coimbatore and ATC Beverages Private Limited. Besides, the new plant in Tamil Nadu started its commercial production of shoe and the shoe-making facility at Vasai (Mumbai) also started producing Injection Moulded Sandals and Flip-flops.
During the year 2022, the Company's Wholly-Owned Subsidiary Company, HFL Consumer Products Private Limited (HCPPL) set up the Ice Cream Plant in Uttar Pradesh and made its first commercial production in April, 2022. The Company got the approval from Hon'ble NCLT, Mumbai Bench for the matter of Composite Scheme of Amalgamation of another Vanity Case group's plant at Coimbatore manufacturing malted beverages viz. Horlicks and Boost for Hindustan Unilever and merger of ATC Beverages Private Limited, manufacturing carbonated drinks and beverages.
Pursuant to the Order dated December 21, 2021 of the Hon'ble NCLT, Mumbai Bench, in the matter of Composite Scheme of Arrangement and Amalgamation between Avalon Cosmetics Private Limited (Demerged Company or ACPL) and ATC Beverages Private Limited (Transferor Company or ABPL) and the Company (Resulting Company or Transferee Company or HFL), ATC Beverages Private Limited ceased to be an Associate Company w.e.f February 18, 2022.
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