French Dairy Giant Lactalis Looking to Acquire in North India
INDIA - France's Lactalis plans acquisitions in northern India after bagging the dairy products business of Prabhat Dairy for Rs 1,700 crore and two other companies.
16 May 2019
1 minute read
The three acquisitions enabled Lactalis to do business in south, central and western India through and it wants to be in the north next, said Rahul Kumar, chief executive officer of Lactalis India.
Lactalis first acquired Thirumala Milk Products Pvt Ltd, which has a strong presence in South India, in 2014 and then bought Anik in 2016.
In January 2019, the company announced it had acquired Maharashtra's Prabhat Dairy. Lactalis has dairy plants in India and manages 1.5 million litres of milk every day.
"We are looking at further acquisitions, to expand our presence in the country. We have presence in South and West now, but we do not have presence in North India," said Kumar, while speaking the reporters in the sidelines of launch of Thirumala Milk's fortified fresh toned milk targeting children.
However, he did not comment on the size of acquisitions the company might be looking at.
(Rs 1 crore = US$142,670)
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Source: Business Standard
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