Dodla Dairy Ltd said on Saturday it has acquired Karnataka-based Sri Krishna Milks Pvt Ltd for Rs 50 crore to expand its business.
In a regulatory filing, Dodla Dairy disclosed that the company has entered into an agreement with Sri Krishna Milks Pvt Ltd to acquire the company as a “going concern” and on the basis of a fallback purchase for a consideration of Rs 50 crore.
See Zee Business Live TV streaming below:
The deal is expected to be completed in approximately two months from the date of the acquisition.
The consideration would be in the form of cash.
Krishna Milks Pvt Ltd (SKMPL), founded in 1989, was the first privately owned dairy company in Karnataka.
SKMPL is mainly engaged in the purchase of milk, production and sale of dairy products. The turnover in 2020-21 was Rs 67.27 crore.
This post Dodla Dairy acquires Sri Krishna Milk for Rs 50 cr in a bid to expand the business
was original published at “https://www.zeebiz.com/companies/news-dodla-dairy-acquires-sri-krishna-milk-for-rs-50-cr-in-a-move-to-expand-business-181178”