Consumer products group Hindustan Foods is to enter the athletic footwear manufacturing business.
The Mumbai-based group has confirmed the acquisition of the sports shoe manufacturing business of another Indian group, SSIPL.

SSIPL has retail and distribution businesses, but it had also built up a footwear manufacturing operation of four factories with a combined capacity of almost 5 million pairs of shoes per year. It won the right to make and distribute shoes in the Indian market for major brands including Puma, ASICS and Lotto.

Hindustan Foods has paid $9.2 million to acquire this part of SSIPL’s business and 3,500 employees will now transfer to the new owner. It said it saw “a massive opportunity” in athletic footwear in India.

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