Godrej Agrovet to take full control of Indian dairy group Creamline

Godrej Agrovet, backed by Indian conglomerate Godrej Industries, first invested in Creamline in 2005. Indian agri-food group Godrej Agrovet has struck a deal to become the sole owner of local dairy business Creamline Dairy Products. The publicly listed company, which already owned just over 51.9% of Creamline, is to pay Rs9.3bn ($106.7m) for the remaining shares. Godrej Agrovet first took its shareholding in the Hyderabad-based business over 50% a decade after its initial investment.

In Creamline’s 2024 fiscal year, the company generated sales of Rs15.73bn, up from Rs15.01bn the previous year. The group markets a range of dairy products, including ghee, paneer, and milk drinks, under the Godrej Jersey brand name. In the nine months to the end of December, Godrej Agrovet saw its revenues fall 2.4% year on year to Rs7.25bn, while profit after tax increased 6.8% to Rs320m.

Additionally, last year, Godrej Agrovet bought out US meat giant Tyson Foods from their Indian joint venture, which was formed in 2008 and sold products under brands like Real Good Chicken and Yummiez.