By Aayush Khanna

Hindustan Foods Limited (BO:), a outstanding participant within the contract manufacturing area for FMCG and client items, is about to fortify its place within the sports activities shoe manufacturing sector. The firm, by way of its wholly-owned subsidiary, KNS Shoetech Private Limited (KNS), has finalized the acquisition of a sports activities shoe manufacturing unit positioned in Kundli, Haryana, in a strategic transfer outlined in a Business Transfer Agreement. The acquisition, valued at roughly INR 30.72 crores, signifies a vital step in Hindustan Foods’ strategic growth into the sports activities sneakers section.

Building on its earlier dedication to speculate as much as INR 100 crores in sports activities shoe manufacturing, the acquisition aligns with the corporate’s announcement in October relating to the acquisition of 100% shareholding in KNS. This strategic transfer underscores Hindustan Foods’ dedication to strengthening its foothold within the quickly rising sports activities sneakers market.

The Indian sports activities sneakers market has witnessed outstanding development, fueled by elevated client consciousness of health and sports activities, coupled with a rising demand for sports activities footwear that seamlessly blends consolation and magnificence. Noteworthy manufacturers like Puma, Decathlon, Adidas (ETR:), Skechers, and Asics have reported substantial year-on-year development starting from 35% to 60% since 2021.

Himmaj Soni, Head of the Sports Shoes Division at Hindustan Foods Limited, expressed enthusiasm concerning the acquisition, stating that it positions the corporate strategically in a dynamic sector. The firm has outlined plans for a brownfield funding in its current manufacturing unit in Chennai to ascertain shoe manufacturing services within the South, tapping into export alternatives facilitated by the proximity to the Chennai port.

Sameer Kothari, Managing Director of Hindustan Foods Limited, affirmed the corporate’s dedication to exploring new avenues for development, emphasizing their forward-thinking strategy. He highlighted the corporate’s ongoing evaluation of strategic acquisitions and investments in associated industries, solidifying its place as a major participant within the Indian FMCG and client items sector. With a give attention to delivering high-quality merchandise, Hindustan Foods is poised to maintain its legacy within the trade.

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X (previously, Twitter) – aayushxkhanna

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