Hatsun Agro Product Acquires 100% Stake in Milk Mantra Dairy for Rs 233 Crore

Hatsun Agro Product (HAP), one of India's leading dairy companies, has announced its acquisition of a 100% stake in Milk Mantra Dairy for a total cash consideration of Rs 233 crore.
As part of this strategic acquisition, HAP has entered into share purchase agreements and other transaction documents with the existing promoters and shareholders of Milk Mantra Dairy.
Milk Mantra Dairy, known for its innovative brand Milky Moo, has established a significant market presence in Odisha and recorded a turnover of Rs 276.42 crore for the fiscal year 2023-24.
The acquisition is poised to bolster HAP's foothold in Odisha's dairy market as well as in Eastern India. It opens new opportunities to leverage HAP's existing markets in North Andhra Pradesh and expand into potential markets such as West Bengal and neighboring states. The Milky Moo brand will join HAP's established roster of brands, including Arun, IBACO, Hatsun, and Arokya.
Hatsun Agro Product is renowned for manufacturing and marketing a wide range of dairy products, including milk, curd, ice creams, dairy whitener, skimmed milk powder, ghee, and paneer.
Despite a 28.7% decline in net profit to Rs 40.94 crore in Q3 FY25, compared to Rs 57.40 crore in Q3 FY24, the company's revenue from operations saw a 6.5% rise, reaching Rs 2,009.75 crore for the quarter ending December 31, 2024.