Godrej Agrovet Limited (GAVL) has announced the acquisition of the remaining 48.06% equity stake in Creamline Dairy Products Limited (CDPL), making it a wholly owned subsidiary of the company. The board of directors has also approved the execution of a Share Purchase Agreement (SPA) with CDPL’s promoter group for purchasing 47.38% equity stake in the dairy company.
CDPL, headquartered in Hyderabad, Telangana, is engaged in milk procurement, processing, and manufacturing of dairy products. The company reported a turnover of Rs 1,54,050.18 lakh for the financial year ending March 31, 2024.
With this acquisition, Godrej Agrovet aims to strengthen its presence in the dairy industry by consolidating its stake in CDPL. The company is a promoter and already holds a significant interest in the dairy firm, which is categorized as a material subsidiary.
The transaction will be carried out on an arm’s length basis, following a valuation report obtained for the acquisition. As a related party transaction, it complies with regulatory norms but does not require additional government or regulatory approvals.
The acquisition is expected to be completed on or before September 30, 2025.
This strategic move underscores Godrej Agrovet’s commitment to expanding its dairy business, leveraging CDPL’s strong market presence in the dairy sector to drive future growth and profitability.