Godrej Industries’ subsidiary Godrej Agrovet (GAVL) has bought additional stake of 25% in Creamline Dairy Products, one of South India’s largest dairy producers selling their products under the brand name ‘Creamline’ for Rs 150 crore.
Prior to this acquisition, GAVL was holding 26% stake in this company. Following this deal, GAVL would be a majority shareholder in Creamline with 51% stake. Through this acquisition, GAVL has entered into dairy sector full- fledged.
Creamline is a prominent dairy company in South India with significant operations across Telangana, Andhra Pradesh, Tamilnadu, Karnataka and at Nagpur in Central India, while Godrej Industries is part of the Godrej group, one of the leading business groups in India and is in the businesses of Oleo-chemicals, surfactants, finance & investments and estate management.