On Friday, Hindustan Unilever (HUL) said it had signed an agreement to sell its atta and salt business under the ‘Annapurna’ and ‘Captain Cook’ brands. The sale is expected to raise Rs 60 crore.

The brands were sold to Uma Global Foods Pte Ltd and Uma Consumer Products Private Ltd, subsidiaries of Singapore-based Reactivate Brands International, and affiliates of CSAW Aqbator Pte Ltd (Singapore).

The brands had annual sales of Rs 127 crore in FY22.

HUL’s decision to divest these businesses aligns with its intention to exit non-core categories while continuing to drive its growth agenda in the condiments, ready-to-cook and soup packaged food businesses, the company said in a release.

The deal expects the transfer of trademarks, copyrights and other intellectual property rights related to India and several other territories. It is subject to customary closing conditions, and HUL will continue to manage the business until the completion of the deal.