Groupe Lactalis

France’s Lactalis acquires Tirumala Milk

France’s Lactalis acquires Tirumala Milk

French dairy giant Groupe Lactalis SA has acquired a 100 per cent stake in Hyderabad, India-based Tirumala Milk Products Private Limited.

Lactalis acquired 80 per cent of the company from its founders and the remaining 20 per cent stake from the Carlyle Group, which had acquired the stake for around $22 million in 2011.

Michel Nalet, a spokesperson for Lactalis confirmed the acquisition, and said that the French company would retain the Indian company's existing management.