Chennai: Dairy company Hatsun Agro Product (HAP) has acquired Milk Mantra Dairy and its brand ‘Milky Moo‘ for Rs 233 crore.
The acquisition of the Bhubaneswar-headquartered company is part of strengthening HAP’s presence in the eastern Indian market. Milk Mantra Dairy has two processing facilities in Odisha. It offers a range of dairy products including milk, curd and among others paneer through Milky Moo brand.
In a statement on Tuesday, R G Chandramogan, chairman, HAP, said, “We are now present beyond our strong position in south and west India and establishing a robust presence in eastern India. We are committed to expanding and growing the dairy landscape in Odisha. Logistically, it also gives scope to strengthen markets like northern Andhra Pradesh, West Bengal and adjoining states, where Arun Icecreams is already present.”
Srikumar Misra, founder, Milk Mantra, said, “We are happy for the future of Milky Moo, and our ecosystem in this transformative transaction, not just for Odisha but beyond.”
