Google News
spot_img

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

Must Read

The Competition Commission of India (CCI) on Monday said that it has approved the acquisition of Reliance Retail’s dairy business by Heritage Foods, owned by Andhra Chief Minister N. Chandrababu Naidu.
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 — ‘Dairy Life’ and ‘Dairy Pure’.
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.

Latest News

H&M opens 61st India store in Pune

The new H&M store is located at Kopa Mall.New Delhi: Swedish fashion brand Hennes & Mauritz (H&M) has opened...