Hatsun Agro Acquires Milk Mantra Dairy In ₹233 Crore Deal

Hatsun Agro Product Ltd has announced the acquisition of a 100% stake in Milk Mantra Dairy Pvt Ltd. This strategic move, approved by the board on January 20, strengthens Hatsun Agro’s foothold in the eastern Indian dairy market.

Acquisition Details

The acquisition involves a total purchase consideration of ₹233 crore. Milk Mantra Dairy’s paid-up share capital, as of January 20, stands at ₹4.77 crore, including 31.69 lakh equity shares and 16.06 lakh compulsorily convertible preference shares. Hatsun Agro has signed share purchase agreements with existing promoters and shareholders to make Milk Mantra Dairy a wholly-owned subsidiary.

Strategic Expansion

Milk Mantra Dairy, founded in 1956, markets and sells dairy products under the ‘Milky Moo’ brand, primarily in Odisha. The company has recorded consistent turnover growth, reporting ₹276.42 crore in FY24, ₹272.91 crore in FY23, and ₹262.1 crore in FY22. The acquisition aligns with Hatsun Agro’s plans to expand into Odisha and eastern India, while also leveraging potential markets like North Andhra Pradesh and West Bengal. The addition of Milky Moo complements Hatsun Agro’s portfolio of brands, including Arun, IBACO, Hatsun, and Arokya.

Hatsun Agro Product Share Performance

As of January 21, 2025, 9:20 AM, the Hatsun Agro Product is trading at ₹970.95 per share, a surge of 1.69% from its previous day’s closing price. Over the last month, the stock has seen a decline of 6.54%, and over the last year, it has declined by 12.26%. 

Conclusion

The acquisition of Milk Mantra Dairy marks a significant step in Hatsun Agro Product’s strategy to enter new geographical markets and strengthen its presence in the dairy sector in eastern India.

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