FrieslandCampina has refused to comment over speculation it is in discussions to buy a majority stake in Indian dairy firm Parag Milk Foods.

The Economic Times, citing “people with direct knowledge of the deal”, claimed the Dutch dairy giant was looking to acquire 60-75% of Parag.

Go deeper with GlobalData

Go deeper with GlobalData

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

A spokesperson for FrieslandCampina however told just-food today (12 May) it did “not comment on rumours”.

FrieslandCampina, which has operations in a number of markets across Asia and Africa, does not have a presence in India

Parag Milk Foods produces a range of dairy products including fresh and homogenised milk, ghee, yoghurt, butter and cheese. It also exports to the Middle East, Africa and South East Asia.

Parag did not respond to requests for comment when approached by just-food.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

The last major investment from a dairy multinational in India came in January when Lactalis acquired Tirumala Milk Products.

Just Food Excellence Awards - Nominations Closed

Nominations are now closed for the Just Food Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Winning five categories in the 2025 Just Food Excellence Awards, Centric Software is setting the pace for digital transformation in food and FMCG. Explore how its integrated PLM and PXM suite delivers faster launches, smarter compliance and data-driven growth for complex, multi-channel product portfolios.

Discover the Impact