Despite the buoyancy, India Inc. has made its share of mistakes. One of them was HLL’s takeover of Modern Foods in 2000. Some like Samarjit Singh, MD of Candid Marketing, call the MNC’s acquisition of the PSU, a ‘cultural mismatch’ and others even went down claiming HLL had put the ailing Modern Foods business up for sale. But, not any more. HLL has decided to merge Modern Foods (till now a wholly owned subsidiary) with itself, effective October 1. The next step is probably to restructure the operations of Modern Foods.
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Source:- IIPM-B&E , Initiative:- Prof. Arindam Chaudhuri - 2006
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