Chennai: Dairy products manufacturer Hatsun Agro Product Ltd has completed the acquisition of Milk Mantra Dairy Pvt Ltd, known for its popular brand ‘Milky Moo’, thereby strengthening its presence in the Eastern parts of the country, a top official said Tuesday.
With this takeover, Hatsun Agro Product Ltd would begin with a sizeable market share, wide distribution and procurement network besides two strategically located processing facilities in Odisha, with Milky Moo brand’s strong market presence.
“With Milk Mantra, Hatsun Agro Product is now present beyond our strong position in South and West India, now establishing a robust presence in Eastern India. Odisha is a prosperous cow belt, and a growing economy. We are excited that a strong brand Milky Moo is added to our stable of brands like Arun, ibaco, Hatsun and Arokya,” said HAP Chairman RG Chandramogan in a company statement Tuesday.
With the acquisition, Hatsun Agro is committed to expanding and growing the dairy landscape in Odisha, he said.
Logistically, it also gives scope to strengthen markets like northern Andhra Pradesh, West Bengal and adjoining states where Arun Ice-Cream is already present.
Milk Mantra Founder Srikumar Misra said, “The acquisition by Hatsun Agro Product Ltd is a natural progression of the company’s vision to scale our impact and innovation across a broader market. HAP has visionary leadership and has extensive resources that will further elevate the value delivered to consumers and farmers alike. We are happy for the future of Milky Moo, and our ecosystem in this transformative transaction, not just for Odisha but beyond.”
The strategic takeover strengthen’s Hatsun Agro Product’s presence in the Eastern Indian dairy market and underscores its mission of delivering fresh, high-quality dairy products to customers, the company said.
PTI