Amul to acquire Heritage Foods' dairy plant in Punjab for Rs 21.2 cr

Currently, GCMMF has two smaller plants in Punjab that largely make liquid milk, curd and buttermilk, and is looking to expand capacity in this space in the state

Gujarat Cooperative Milk Marketing Federation (GCMMF)'s flagship Amul Dairy is set to acquire Heritage Foods Ltd's dairy plant in Punjab for Rs 21.20 crore. 

Heritage Foods Ltd's Board of Directors on Friday approved the sale of "all tangible assets" of the dairy plant located at Bhambri village of Fatehgarh Sahib district in Punjab, the company said in its filing with exchanges. The move is part of its business rationalisation in northern India. The board approved the sale to Anand-based Kaira District Milk Producers Union Ltd (Amul Dairy), the flagship dairy under GCMMF.

On its part, GCMMF is evaluating the acquisition proposal, with