Hatsun Agro Product (HAP), a leading dairy brand in India, has announced its acquisition of a 100% stake in Milk Mantra Dairy for a total cash consideration of ₹233 crore. The acquisition marks a strategic step towards expanding HAP’s presence in Odisha and the Eastern Indian dairy market.
Details of the Acquisition:
HAP has signed share purchase agreements (SPAs) and other transaction documents with the existing promoters and shareholders of Milk Mantra Dairy. Known for its innovative brand Milky Moo, Milk Mantra Dairy has carved a strong niche in the Odisha market, recording a turnover of ₹276.42 crore for FY 2023-24.
Strategic Benefits:
HAP stated that the acquisition will not only strengthen its footprint in Odisha but also create opportunities to tap into potential markets such as West Bengal and neighboring states. Additionally, it will complement HAP’s existing brands like Arun, IBACO, Hatsun, and Arokya.
The move is expected to leverage HAP’s presence in North Andhra Pradesh and drive synergies with Milk Mantra Dairy’s strong distribution and marketing network.
About Hatsun Agro Product:
HAP is a prominent manufacturer and marketer of dairy products, including milk, curd, ice cream, dairy whitener, skimmed milk powder, ghee, and paneer.
- Revenue Growth: In Q3 FY25, HAP reported a 6.5% increase in revenue, reaching ₹2,009.75 crore compared to ₹1,887.33 crore in the same quarter of FY24.
- Profit Decline: The company’s net profit, however, saw a 28.7% decline, falling to ₹40.94 crore from ₹57.40 crore in Q3 FY24.
Conclusion:
With this acquisition, Hatsun Agro Product aims to strengthen its portfolio and enhance its market presence in Eastern India, providing a boost to its growth strategy. The integration of Milk Mantra Dairy’s Milky Moo with HAP’s established brands is expected to bring new opportunities for market expansion and innovation in the dairy sector.
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