M&A

HUL in talks to buy spice seller MDH

Mint  

Hindustan Unilever Ltd is in talks with Mahashian Di Hatti Pvt. Ltd (MDH) to buy a majority stake in the maker of MDH Spices. MDH could be valued between INR 10,000 crore and INR 15,000 crore, given its pan-India appeal. MDH Spices has been in talks with other large conglomerates in India after the death of founder Dharampal Gulati. The company currently sells more than 60 products in India and has hundreds of thousands of retailers stocking its products and at least 1,000 wholesalers. MDH reported INR 507 crore in Ebitda in 2020-21 on net sales of INR 1,191 crore.

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