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Dabur India today said it had bought the business undertakings of Northern Aromatics Limited at the Uttarakhand factory. Northern Aromatics is a third-party manufacturer of Dabur.
As per the agreement, Dabur will buy manufacturing facility, all assets and liabilities related to the particular facility located at Plot no 16, Sector -2, IIE, Pantnagar, Uttarakhand.
In a statement to the Bombay Stock Exchange (BSE) today, Dabur said that it had bought the facility on a slump sale basis at a consideration of Rs 15 crore.
Dabur will use the facility to manufacture food products, ayurvedic medicines and cosmetics.
Besides its owned production facilities in India, the company sources a substantial percentage of products from third-party manufacturers.
Meanwhile, shares of Dabur India gained 2.26% today on BSE to close at Rs 160.90. Market dealers have said this was due to attractive valuations after recent underperformance.
