From WATTAgNet:
Hatsun Agro, the largest private dairy in India, has approved the acquisition of a VKS Farms feed mill unit in Melkaraipatti, Coimbatore, for 13.50 crore in an all-cash deal. The acquisition is subject to the completion of due diligence and other formalities.
Hatsun would remit the entire purchase consideration directly to the Indian Overseas Bank, and the deal will be under a private equity agreement.
Hatsun has brands like Arun Icecreams, Arokya Milk, and dairy products and ingredients under the Hatsun name, Ibaco ice cream and Aniva sweets.
Waterbase, Pinnae Foods to merge
Also in India, fully integrated shrimp farmer, processor and feed mill Waterbase has initiated a merger with local feed manufacturer Pinnae Foods.
The deal aims to increase production scale by setting up a new hatchery, widening the dealer network and expanding geography. Waterbase currently is focused on manufacturing shrimp feed and processing shrimp for export. Its feed mill is located near Nellore in Andhra Pradesh.
Waterbase owns several brands of shrimp feed, and its processed shrimp is marketed across Japan, Europe and the U.S. The company says it has provided training and support in farming techniques to several thousand farmers in India.
Hatsun Agro board okays acquisition of feed mill unit in Coimbatore
CHENNAI: Hatsun Agro’s board meeting on Wednesday approved acquisition of a feed mill unit at Melkaraipatti in Coimbatore, belonging to VKS Farms, for Rs 13.50 crore. The acquisition will be carried out on an all-cash deal basis subject to completion of due diligence and other formalities. …
Indian shrimp group to merge with local feed manufacturer
Fully integrated Indian shrimp farmer, processor and feed mill, Waterbase, has initiated steps for a merger with local feed manufacturer Pinnae Feeds, reports. The merger, expected to be completed soon, aims to increase production scale, amid a challenging scenario of India’s aquaculture activities, which are bound to be hit by recent floods in the Nellore district of Andhra Pradesh and an outbreak of Enterocytozoon Hepatopenaei (EHP), a fungal disease.
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