Hindustan Lever Limited (HLL) is planning to sell its marine business division to Temptation Foods Limited (TFL), a Mumbai-based frozen food marketer. The deal is said to be in the range of Rs 100-130 crore, and would also incorporate the transfer of human resource from HLL to TFL.
TFL is looking to expand in the domestic market, and had bought 26 per cent stake in Karen’s Gourmet Kitchen. At present the company offers frozen products like drumsticks, capsicum, peas, guava and pineapple. It has also recently launched its own brand called Delica, which marks its foray in the private label business.