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Hatsun Agro Products has finalised plans to acquire a cattle feed mill in Tamil Nadu for Rs 13.50 crore.
The Rs 2,900-crore Hatsun Agro will acquire the mill belonging to VKS Farms Pvt Ltd at Coimbatore in an all-cash deal subject to due diligence and other formalities, according to information provided by the company to the BSE.
Hatsun Agro, India's largest private sector dairy, sells liquid milk under the brand name Arokya, ice creams under the brand Arun Icecreams, and a wide range of dairy products under the brand Hatsun.
The company sells cattle feed branded Santosa to farmers who supply it milk. It now manufactures cattle feed through a mill it owns and through outsourced units. The new acquisition will further expand its capacity.
In 2014-15, the cattle feed business contributed about ₹ 100 crore revenue, up from about ₹ 72 crore in the previous year.
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