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CCI nod to Heritage Foods’ acquisition of Reliance Retail’s dairy business

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The Competition Commission of India (CCI) on Monday said that it has approved the acquisition of ’s dairy business by , owned by Andhra Chief Minister N. Chandrababu Naidu.

CCI nod to Heritage Foods's acquisition of Reliance Retail's dairy business
Last year, Heritage Foods executed a binding agreement to acquire the dairy business of Reliance Retail through slump sale

In a tweet, the CCI said: “CCI_India approves acquisition of dairy business of Reliance Retail by Heritage Foods.”

Last year, Heritage Foods executed a binding agreement to acquire the dairy business of Reliance Retail through slump sale.

The dairy business of Reliance Retail operates pan-India dairy procurement, processing and distribution platform under two brands — ‘’ and ‘’.

The Heritage Group, founded by Naidu in 1992, has six business divisions — dairy, retail, agri, bakery, renewable energy and vetCa – under its flagship company Heritage Foods.

The annual turnover of Heritage Foods crossed Rs 2,380.58 crore in 2015-16.