Hatsun Agro Nears 100% Acquisition of Milk Mantra Dairy for ₹232.77 Crore

In a strategic move to strengthen its presence in Eastern India’s dairy market, Hatsun Agro Product Limited (HAP) has announced the acquisition of an additional 54,687 equity shares of Milk Mantra Dairy Private Limited. This latest purchase, completed on February 28, 2025, brings HAP’s total holdings to 31,59,603 equity shares and 16,06,372 compulsorily convertible preference shares, representing a 99.80% stake in Milk Mantra. The cumulative investment for this acquisition amounts to ₹232.77 crores.

This acquisition aligns with HAP’s strategic intent to expand into new geographical markets. By integrating Milk Mantra’s operations, known for its innovative ‘Milky Moo’ brand, HAP aims to enhance its product offerings and reach in Odisha and the broader Eastern India region. The synergy between HAP’s extensive infrastructure and Milk Mantra’s established market presence is expected to deliver increased value to both farmers and consumers.

The completion of this acquisition is subject to the fulfillment of customary conditions as outlined in the Share Purchase Agreement (SPA). Upon finalization, Milk Mantra Dairy Private Limited will become a wholly-owned subsidiary of Hatsun Agro Product Limited, marking a significant milestone in HAP’s growth trajectory.