The purpose of the JV is to undertake the business of manufacturing, marketing, trading, selling and distributing various food products in the health and wellness category such as chips, non-dairy beverages, straws and infant/ toddler foods.
“The company and Hain India each shall hold 50 per cent of the paid up share capital of the JV company. Both shall have the right to nominate three directors each on the board of the JV company,” Future Consumer said in a BSE filing.
Hain Celestial brands includes Terra, Garden of Eatin’, Sensible Portions, Dream and Earth’s Best.
Future Consumer, a part of the Future Group, operates in the food and FMCG space with 27 brands like Tasty Treat, Nilgiris, Golden Harvest, Sunkist, Sangi’s Kitchen, Desi Atta Company, Kara, Swiss CareMate, Clean Mate, Think Skin, Fresh & Pure in over 65 categories.