French dairy giant Lactalis is eyeing more buyouts in the Indian dairy sector to consolidate its presence and hopes to seal a large buyout shortly, say people in the know.
The company bought South India’s second largest dairy firm, Tirumala Milk, for Rs 1,750 crore in January 2014. Last month, the world’s largest dairy group agreed to acquire the dairy business of Indore-based Anik Industries for Rs 470 crore. “We want to grow in India both organically as well as inorganically as Lactalis has a long term vision for the Indian dairy market,” Lactalis India Chief Executive Rahul Kumar told ET. The company would be looking for acquisitions of large dairy companies in Northern India once it completes the takeover of Anik’s business and stabilise operations, he said.