[23 January/Dairy Reporter]

Indian company Prabhat Dairy has agreed the sale of its dairy business to a subsidiary of Groupe Lactalis for INR 1,700 crore. Another Lactalis subsidiary, HALAWA JV Group, has acquired 100% of the shares of Greenland Group for Food Industries in Egypt, which was previously owned by Americana Group. Greenland owns eight factories in Egypt with a workforce of more than 2,000 people producing mainly cheeses. Greenland also owns the only whey production factory in the Middle East. Greenland’s annual production capacity exceeds 100,000 tons in dairy foods and juice products, and its products are sold in more than 50 countries globally. Prabhat Dairy said the sale will allow it to further develop its cattle feed business in various parts of the country, as well as expand into businesses such as animal nutrition and animal genetics. It added that the association with Lactalis will provide the dairy businesses with a strong platform for accelerated growth.