Future Consumer Enterprise said Monday the company has signed an agreement with Grasim Industries for the purchase of its consumer products division, on a slump sale basis.

Grasim's business undertaking engaged in the activities of manufacturing, branding and distribution of skin care, baby care and home care wet wipes and hand sanitizers under the brands 'Kara', 'Puretta', 'Handys' and 'Prim'. Net sales for the division stood at Rs. 95.2 million for the financial year 2014-15.

The transaction is expected to be completed in June, 2015.

Shares of the company gained Rs 0.2, or 1.59%, to trade at Rs 12.76. The total volume of shares traded was 197,177 at the BSE (9.53 a.m., Monday).