Godrej Agrovet (GAVL) has announced the acquisition of the remaining 48.06% equity stake in Creamline Dairy Products (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 a 47.38% equity stake in the dairy company.
Before the acquisition, Godrej Agrovet held a 51.94% stake, which amounted to 58,81,508 equity shares in CDPL. Following the acquisition, Godrej Agrovet’s stake in the company will rise to 100%, amounting to 11,324,700 equity shares.
The acquisition is expected to be completed on or before September 30, 2025.
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.
