Consumer goods firm Marico Ltd said late on Tuesday it has sold its processed foods business under the ‘Sil´ brand to Denmark’s Good Food Group for an undisclosed sum to focus on its cosmetic business.
The sale to Good Food’s Indian unit, Scandic Food India Pvt Ltd, includes a manufacturing unit near Pune.Marico will distribute the Sil range of products for one year, according to an official statement issued by the company.Marico owns India’s top coconut hair oil brand Parachute and has acquired hair care brands in South Africa and Egypt.
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