M&A

M&A

Godrej Agrovet acquires remaining 48% stake in Creamline Dairy for Rs.930-Cr

BSE Disclosure   Business Line  

Publicly listed agri-business firm Godrej Agrovet Ltd (GAVL) has acquired the balance 48.06% equity stake in Hyderabad-based Creamline Dairy Products Ltd (CDPL) for INR 930 crore, making it a wholly-owned subsidiary.CDPL, incorporated in 1986, is engaged in milk procurement, processing of milk and manufacturing and selling of milk and milk products under the ‘Godrej Jersey’ brand.It recorded turnover of INR 1,540 crore for FY24, compared to INR 1,471 crore in FY23.

In Dec 2015, Godrej Agrovet had acquired 51% stake in Creamline Dairy for INR 150 crore.