11 June 2007

Mumbai: Hindustan Unilever, formerly Hindustan Lever Ltd, has sold its marine foods business to Mumbai-based Temptation Foods (TFL) for an undisclosed sum.

The size of the business includes manufacturing facilities and is estimated at around Rs250 crore.

Temptation Foods, the Rs39-crore, listed, fruit and vegetables export company, will get direct access to HUL''s customers across the world.

HUL''s marine foods division is the largest single export vertical in the country. HUL had decided to sell it as it wanted to get out of all non-core businesses. The company had already sold its seafood processing plant in Andhra Pradesh and shut down operations in Gujarat.

Recently, HUL also expanded its customer base in Europe and West Asia and developed new markets in Mexico. HUL''s marine products that are exported include surimi crabsticks, crabclaws, crab chunks, fish fillets, crab, octopus and squids.

HUL has manufacturing facilities in Chorwad in Gujarat, Kuthiathode and Aroor in Kerala. The company has also added several new products such as skin pack shrimps, marinated seafood and minced crabsticks to its seafood portfolio.