Hatsun Agro acquires Milk Mantra Dairy for US$27.96M in full takeover

INDIA – Hatsun Agro Product Limited (HAP) has finalized its 100% acquisition of Milk Mantra Dairy Private Limited, a significant move in the dairy industry, for a total of US$27.96 million.

Reported by the company, this acquisition was completed with the purchase of 2,500 equity shares, each valued at US$0.0012, from Milk Mantra’s shareholders.

According to HAP, the transaction involved a payment of US$0.0096 million, as stipulated in the Share Purchase Agreement.

The latest deal adds to HAP’s earlier purchases, bringing its total ownership to 31,64,056 equity shares and 16,06,372 compulsorily convertible preference shares, all priced at US$0.0012 each.

A report by HAP states that the cumulative cost of these transactions amounts to US$27.94 million, giving the company a commanding 99.89% stake in Milk Mantra’s issued and paid-up equity and preference share capital. 

With this, HAP has effectively taken full control of the dairy firm.

This acquisition is the culmination of a series of deals disclosed by HAP in letters dated between January 27, 2025, and March 3, 2025. 

The company has steadily increased its stake in Milk Mantra over recent months, reflecting a clear strategy to expand its footprint in the dairy market. 

“This acquisition strengthens our position in the industry and aligns with our vision for growth.” 

Milk Mantra Dairy, now under HAP’s near-total ownership, stands to benefit from the larger company’s resources and expertise. 

HAP, a well-established name in dairy products, is expected to use this acquisition to enhance its offerings and explore new opportunities for innovation. 

“We aim to bring greater value to consumers through this integration,” said a spokesperson from HAP, highlighting the potential for improved products and services.

The takeover affirms HAP’s aggressive expansion approach, positioning it as a key player in the competitive dairy landscape. 

With almost full control of Milk Mantra, HAP is well-placed to drive further growth, leveraging its market experience to meet rising consumer needs.

Subscribe to our email newsletters that provide busy executives like you with the latest news insights and trends from Africa and the World. SUBSCRIBE HERE