Lactalis is currently in negotiations to acquire seventy percent of Tirumala as reported by those involved in the negotiations. Lactalis Group is the world’s largest food product company and Tirumala is south India’s second largest producer of dairy products. Eighty percent of Tirumala is currently owned by four Indian businessmen. The remaining twenty percent is owned by Carlyle, a private equity firm. Tirumala Milk is reporting sales of Rs 1,000 crore so far this year and expects to surpass Rs2,000 crore by its fiscal year ending March 2014. According to Rabobank, India’s dairy industry is expected to grow at an annual rate of between thirteen – fifteen percent through 2020.
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