Godrej Agrovet Limited has announced that it has acquired the balance 48.06% equity stake in Creamline Dairy Products Limited (CDPL). With this, the company shall take full control of Creamline Dairy.
The company also informed in its filing with the bourses that its board has approved the ₹930 Crore deal. This will consolidate Godrej Agrovet’s position in the dairy segment.
After execution of this transaction, CDPL will become a 100% subsidiary of the company.
Creamline Dairy is known for the Godrej Jersey brand. The company is based in Hyderabad and a leading private dairy brand in India’s South region.
The company engages in procurement, processing, and manufacturing of milk/dairy products. In FY24, CDPL reported a turnover of ₹15,405 Crore, marking its robust presence in the market.
As per the company, this acquisition is expected to bolster Godrej Agrovet’s footprint in the dairy sector, enhancing its value-added product portfolio. The company stated that it is executing the transaction on an arm’s length basis and is aided by an independent valuation report.
In the quarter ended December 2024, the company reported a net profit of ₹109.90 Crore, registering a growth of 32.40% on a year-on-year basis. The company reported a net profit of ₹83 Crore in the previous corresponding quarter.
Godrej Agrovet’s revenue logged a growth of 4.5% to ₹2,449.60 Crore in Q3FY25. In the previous corresponding quarter, the company reported a revenue of ₹2,345.20 Crore.
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