Hatsun Agro acquires Milk Mantra for Rs 233 cr to expand in East India

Dairy company seeks to spread beyond South India with new acquisition

Hatsun Agro Product Ltd (HAP), a Chennai-based dairy company, has acquired Milk Mantra Dairy and its ‘Milky Moo’ brand for Rs 233 crore.

 

“The strategic takeover strengthens HAP's presence in the Eastern Indian dairy market and underscores its mission of delivering fresh, high-quality dairy products to customers,” it said in a statement. The acquisition will enable HAP to have a “sizeable market share, wide distribution and procurement network and two strategically located processing facilities” in Odisha and the Milky Moo brand’s strong market presence.

 

“The acquisition by Hatsun Agro Product Ltd is a natural progression of our vision to scale our impact and innovation across a broader market,” said Srikumar Misra, founder of Milk Mantra. “HAP has visionary leadership and has extensive resources that will further elevate the value delivered to consumers and farmers alike. We are happy for the future of Milky Moo, and our ecosystem in this transformative transaction.”

 

 

R G Chandramogan, chairman of HAP, said: “With Milk Mantra, HAP is now present beyond our strong position in South and West India, now establishing a robust presence in Eastern India. Odisha is a prosperous cow milk belt, and a growing economy. We are excited that a strong brand Milky Moo is added to our stable of brands like Arun, Ibaco, Hatsun and Arokya.”

 

HAP procures milk from fine quality cattle managed by 400,000 farmers it has selected. The company’s portfolio includes Arun, South India’s leading ice-cream brand; Arokya Milk & Milk products, the country’s largest private sector milk brand; Ibaco, a premium chain of ice cream outlets, and Hatsun Dairy Products. With more than 3,900 outlets, HAP Daily has expanded its reach in traditionally strong markets of Southern India. It has started making inroads in Maharashtra, Kerala, Orissa, Goa, Chhattisgarh, Madhya Pradesh and other states.

 

HAP procures milk from select, high-quality cattle, sourced directly from around 4,00,000 farmers chosen with care. Its portfolio includes: 

Arun Ice Creams – South India’s leading ice cream brand 

Arokya Milk and Milk Products – The country’s largest private-sector milk brand 

Hatsun Dairy Products – A rapidly growing, diverse portfolio of dairy products. 

ibaco – A premium chain of ice cream outlets enabling consumers to create their own ice cream sundaes 

Aniva – A range of deliciously flavoured whey drinks 

HAP Daily – With over 3,900 outlets, HAP Daily has expanded its reach in traditionally strong markets like Tamil Nadu, Puducherry, Karnataka, Andhra Pradesh, and Telangana and has begun making inroads into Maharashtra, Kerala, Odisha, Goa, Chhattisgarh, Madhya Pradesh, West Bengal, Jharkhand, Gujarat, Andaman and Nicobar Islands, Chandigarh, and Bihar.