HUL to scoop out ice cream business

Hindustan Unilever's (HUL's) board of directors decided in a meeting held on Wednesday to separate the ice cream business.

- Sharleen D'Souza

In September, the board constituted a committee of independent directors to evaluate the business' future.

"The decision to separate is in line with the recommendations made by the independent committee following a comprehensive review of the business," it said in its stock exchange filing.

The committee noted that the ice cream business is a high-growth category requiring considerable investment to realise its full potential, contributing roughly 3 per cent of HUL's turnover.