Hatsun Agro Acquires Odisha-Based Milk Mantra for ₹233 Crore
Hatsun Agro Product Ltd (HAP), a leading dairy company headquartered in Chennai, has acquired Odisha-based Milk Mantra Dairy and its well-known ‘Milky Moo’ brand for ₹233 crore, marking its expansion into the Eastern Indian dairy market.
In a statement, HAP emphasized that the strategic acquisition would enhance its market footprint, providing a wider distribution and procurement network, along with two strategically located processing facilities in Odisha. The company aims to leverage Milk Mantra’s strong brand presence to reinforce its commitment to delivering fresh and high-quality dairy products to consumers.
Milk Mantra’s founder, Srikumar Misra, expressed confidence in the transition, stating, “This acquisition aligns with our vision to expand innovation and impact in the dairy sector. With HAP’s leadership and resources, Milky Moo and its ecosystem are set for greater growth.”
Expanding Beyond Southern and Western Markets
With this acquisition, HAP is extending its reach beyond its stronghold in South and West India. R G Chandramogan, Chairman of HAP, highlighted Odisha’s potential, saying, “Odisha is a prosperous milk-producing region with a growing economy. This acquisition strengthens our presence in Eastern India while adding the strong Milky Moo brand to our portfolio, which includes Arun, Ibaco, Hatsun, and Arokya.”
HAP sources milk from over 400,000 farmers managing high-quality cattle. Its diverse product line features Arun ice cream, one of South India’s leading brands; Arokya Milk, a dominant private-sector dairy brand in India; Ibaco premium ice cream outlets; and Hatsun Dairy Products. The company operates more than 3,900 HAP Daily outlets, with a growing presence in Maharashtra, Kerala, Odisha, Goa, Chhattisgarh, and Madhya Pradesh.
The acquisition is expected to bolster HAP’s market dominance and fuel its expansion strategy, reinforcing its position as a major player in India’s dairy industry.
