Shares of Godrej Agrovet Ltd rallied 4% on 12 March after the company announced receiving approval from the Board of Directors to acquire the remaining 48.06% stake in Creamline Dairy Products.
The total cost of the acquisition is Rs 930 crore, and after the purchase, Creamline Dairy Products will become the company’s wholly-owned subsidiary.
In its regulatory filing, the company said, “The board of directors has approved the purchase/acquisition of remaining 48.06 per cent Equity Stake in Creamline Dairy Products Limited (CDPL), making CDPL a wholly owned subsidiary of the Company, upon completion of the said acquisition.”
As per the filing, the board of directors has also approved the signing of a share purchase agreement with the promoter group of Creamline Dairy Products to purchase a 47.38% stake in the company.
Creamline Dairy Products’ activities encompass the procurement, processing, manufacturing, and distribution of milk and its byproducts.
The board also appointed Y. V. Sathish as head- of manufacturing and supply chain excellence starting on 24 March 2025.
The filing added, “The board of directors has approved the appointment of and remuneration payable to Mr. Y. V. Sathish as “head – manufacturing & supply chain excellence” of the company effective from 24 March 2025, as per the Nomination and Remuneration Policy of the company.”
Over his thirty years of experience, Y. V. Sathish has worked for renowned FMCG companies such as Hindustan Unilever Limited and GlaxoSmithKline across a range of cultural and geographic contexts. In his professional life, Sathish has managed a large number of manufacturing plants and greenfield projects around India. He has started creative ventures in additive manufacturing, responsible automation, and digital use cases.
Currently, Sathish is responsible for Unilever’s largest facility in the South Asia cluster, Sumerpur. He has worked with Unilever for eighteen years, starting as a plant engineer and progressing to management roles in Assam, Kolkata, Goa, Kandla, and Sumerpur.
At 11:22 am, the shares of Godrej Agrovet were trading 2.14% higher at 751.90 on NSE.
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