On Wednesday, Godrej Agrovet announced an exciting plan to buy the remaining 48.06% of Creamline Dairy Products (CDPL) for ₹930 crore. This move means that Creamline, a company known for its milk and dairy products sold as ‘Godrej Jersey,’ will become completely owned by Godrej Agrovet.
Currently, Godrej Agrovet already owns 51.94% of Creamline. With this new deal, they will purchase a 47.38% stake from Creamline’s original founders. The main aim of this purchase is to have full ownership of CDPL, allowing Godrej Agrovet to strengthen its position in the dairy market. The deal is expected to be completed by the end of September this year.
Creamline Dairy Products is based in Hyderabad and focuses on collecting, processing, and selling milk and dairy products. It’s one of the top private dairy companies in southern India, and its products are well-loved under the brand name ‘Godrej Jersey.’ For the financial year ending March 31, 2024, Creamline recorded a revenue of ₹1,540 crore.
In the last year, Godrej Agrovet’s shares increased by 43.63%, significantly outperforming its competitors. Over the past three years, the stock has seen a 52% return. Recent data shows that Godrej Agrovet has performed better than its industry and major market indexes like Nifty50 and Sensex.
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