Dodla Dairy Ltd announced on March 19th, 22nd that it had bought Sri Krishna Milks Pvt Ltd in Karnataka for Rs. 50 crores in order to grow its operations.
Dodla Dairy said in a regulatory filing that it has entered into an agreement with Sri Krishna Milks Pvt Ltd for the acquisition of the firm as a “going concern” and on a slump buy basis for Rs. 50 crores.
The deal is expected to be concluded in around two months from the date of the acquisition. The consideration would be in the form of cash.
Krishna Milks Pvt Ltd (SKMPL), incorporated in 1989, was the first private sector dairy company in Karnataka. SKMPL is mainly into procuring milk and manufacturing and selling dairy products. Its turnover in 2020–21 was Rs 67.27 crore.