France's Lactalis agrees to buy Tirumala

Sources say the deal is worth $250-300 mn

Lactalis, Europe's biggest dairy group, said on Tuesday it had agreed to buy South Indian dairy company Tirumala Milk Products for an undisclosed amount.

"I confirm that Lactalis bought Tirumala Milk Products," a Lactalis spokesman said.

He was speaking after sources told Reuters that Lactalis agreed to buy Tirumala for $250-300 million.