CCI gives nod to Tirumala Milk Products to buy Sunfresh Agro Industries

The Competition Commission of India has given approval to Tirumala Milk Products to buy Sunfresh Agro Industries.
  • Franchise India Team Editor
Restaurant India

The Competition Commission of India (CCI) has given approval to Tirumala Milk Products to buy Sunfresh Agro Industries, a subsidiary of Prabhat Dairy.

The fair trade regulator said, "CCI approves acquisition by Tirumala Milk Products Pvt. Ltd of (a) Prabhat Dairy Limited's subsidiary Sunfresh Agro Industries Private Limited; and (b) dairy business of Prabhat Dairy." 

In January, Prabhat Dairy said that Tirumala Milk Products, France-based Lactalis' Indian subsidiary, was buying its dairy business for Rs 1,700 crore, which is 1.09 times their sale in 2017-18 of Rs 1,554 crore. 

Apart from the dairy business, the transaction further involves the sale of 100% shareholding in Sunfresh Agro Industries through a share purchase agreement.

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