Hatsun Agro Product Ltd (HAP), a dairy product manufacturer, has acquired Milk Mantra Dairy Private Limited for 233 crore rupees (US$26 million).

The acquisition, approved by HAP’s board, makes Milk Mantra a wholly-owned subsidiary.

Milk Mantra’s brand, including Milky Moo and Moo Shake, will now join HAP’s portfolio alongside Arun, IBACO, Hatsun, and Arokya.

This move aims to strengthen HAP’s presence in the eastern Indian dairy market, particularly in Odisha, while also expanding into West Bengal, northern Andhra Pradesh, and neighboring states.

HAP has been operating for over five decades, with more than 3,700 retail outlets and over 20 processing plants.

Milk Mantra, founded in 2009 and operational since 2012, offers products like packaged milk, curd, paneer, lassi, and flavored milkshakes. In FY24, company reported a net profit of 9.8 crore rupees (US$1.13 million).