Hindustan Unilever emerges front-runner for Dinshaw's Dairy Foods

Negotiating all-cash deal at Rs 1,000 crore, which is two times its FY19 sales

Hindustan Unilever (HUL), the country’s largest consumer goods company, is leading the race to pick up Nagpur-based Dinshaw’s Dairy Foods, which has been on the block since April.

HUL is negotiating an all-cash deal at Rs 1,000 crore with the promoters of Dinshaw’s, one of India’s oldest ice cream makers, valuing the company at two times its estimated FY19 sales of Rs 450 crore, people in the know have told Business Standard.

Some of the other contenders that HUL might have edged out are private equity firms Carlyle and Blackstone, and South Korea’s Lotte Confectionery.

HUL said it could not comment on market