CavinKare Pvt Ltd plans to enter the dairy business by acquiring around 50-60 small and medium sized dairies across the country, starting with four southern states, reports financial daily Mint.
The Chennai-based company, which makes and markets personal care, skin care and food products, bought its first dairy in Kanchipuram, a town that is around 75 kms from Chennai, the report adds.
According to the report, CavinKare will first acquire dairies in the south before moving into the northern states. The Kanchipuram acquisition cost the company Rs 300 million.
“We are floating our ideas in the market for acquiring dairy units. There are many dairy units that are poorly managed and quickly become sick. We are looking at acquiring those. It will take a long time to set up our own (dairy) units,” quoted CK Ranganathan, chairman and managing director of CavinKare, in the report.
— IndiaRetailing Bureau
