Nestlé India has entered into an agreement to acquire a minority stake in milk collector Indocon Agro and Allied Activities Private Limited.
In a Bombay Stock Exchange (BSE) filing, Nestlé India revealed that it had entered into an agreement to purchase a 26% shareholding in the company.
“Nestlé India Ltd has informed BSE that the Company has entered into agreement for acquiring 26% minority stake in Indocon Agro and Allied Activities Private Limited, engaged in milk collection business in Western India,” said the BSE filing.
“The acquisition is subject to the parties fulfilling their respective obligations. The business investment will contribute to Creating Shared Value with farmers engaged in milk,” it added.