Desai Diwanji, Veritas act on Lactalis acquisition of Prabhat Dairy’s milk business
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Desai Diwanji, Veritas act on Lactalis acquisition of Prabhat Dairy’s milk business

Bar & Bench

Tirumala Milk Products, a wholly owned subsidiary of French dairy group Lactalis, has acquired a 100% stake in the dairy business of Prabhat Dairy Limited and the entire shareholding of its subsidiary, Sunfresh Agro Industries Private Limited, for approximately Rs 1,700 crore.

Desai & Diwanji acted for Lactalis Group, through a team led by Partners Rachna Jain and Aneesh Gupte. Also part of the team were Senior Associates Megha Sharma and Shireen Langrana, and Associates Sweta Rao and Shreya Iyer.

A team from Veritas Legal led by Partner Nandish Vyas acted for Prabhat Dairy. The Veritas team also had Senior Associate Somrita Chatterji, and Associates Abhipsita Kundu, Devesh Saboo, Tejas Shah, and Geet Sawhney (Competition Law).

The acquisition will help Lactalis reduce its dependence on home markets within Europe, where it gets the bulk of its revenue, reported ET.

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