In this regard, HAP has entered into share purchase agreements (SPAs), and other transaction documents / agreements with the existing promoters and shareholders of Milk Mantra Dairy.
Milk Mantra Dairy is a manufacturer involved in marketing and sale of milk and milk products. With its innovative brand ‘Milky Moo’ it has created a strong presence in Odisha. It had recorded a turnover of Rs 276.42 crore for FY 2023-24.
Hatsun Agro stated that this acquisition would strengthen the company’s presence in Odisha and the Eastern India dairy market.
It also gives scope to tap HAP’s existing North Andhra Pradesh market and potential markets like West Bengal and adjoining States. The Milky Moo brand will be added with existing stable brands of HAP's Arun, IBACO, Hatsun and Arokya.
Hatsun Agro Product manufactures and markets dairy products like milk, curd, ice creams, dairy whitener, skimmed milk powder, ghee, paneer, etc.
The company’s net profit declined 28.7% to Rs 40.94 crore in Q3 FY25 as against Rs 57.40 crore posted in Q3 FY24. However, revenue from operations rose 6.5% to Rs 2,009.75 crore during the quarter ended 31 December 2024.