Nestle to buy 26 pc stake in Indocon Agro & Allied Activities
FMCG major Nestle India today said the company has inked a pact to acquire a 26 per cent stake in Indocon Agro and Allied Activities Private Ltd.
By PTI |
NEW DELHI: FMCG major Nestle India today said the company has inked a pact to acquire a 26 per cent stake in Indocon Agro and Allied Activities Private Ltd.
In a BSE filing, the company said it "has entered into agreement for acquiring 26 per cent minority stake in Indocon Agro and Allied Activities Pvt Ltd, engaged in milk collection business in Western India".
"This business investment will contribute to creating shared value with farmers engaged in milk," it added.
The acquisition is subject to the parties fulfilling their respective obligations, the statement said.
Apart from milk and yogurt, Nestle sells popular products like Maggi noodles, Nescafe and KitKat chocolates in India.
In a BSE filing, the company said it "has entered into agreement for acquiring 26 per cent minority stake in Indocon Agro and Allied Activities Pvt Ltd, engaged in milk collection business in Western India".
"This business investment will contribute to creating shared value with farmers engaged in milk," it added.
The acquisition is subject to the parties fulfilling their respective obligations, the statement said.
Apart from milk and yogurt, Nestle sells popular products like Maggi noodles, Nescafe and KitKat chocolates in India.
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