February 6, 2013

Nestle India will acquire a 26% stake in dairy company Indocon Agro and Allied Activities Private Ltd.

The financial terms of the transaction were not disclosed.

Gurgaon-based Nestlé India informed the Bombay Stock Exchange that it 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.''

The acquisition is subject to the two companies fulfilling their respective obligations.

"This business investment will contribute to creating shared value with farmers engaged in milk,'' it added.

Nestle India is one the biggest players in Fast Moving Consumer Goods (FMCG) segment and has a presence in milk and nutrition, beverages, prepared dishes and cooking aids and chocolate and confectionery segments.