Tuesday, January 22, 2019

Lactalis buys Prabhat Dairy for Rs 1700 Cr

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Lactalis, a multinational dairy products corporation, owned by the Besnier family and based in  France, will buy Prabhat Dairy, a bulk producer of milk and dairy products, in its third acquisition in India.

As per the filing with the the stock exchanges that Lactalis’s Indian subsidiary Tirumala Milk Products was acquiring its dairy business for Rs 1,700 crore, which is 1.17 times its FY18 sales of Rs 1,442 crore. The transaction is subject to mandatory approvals. 

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