US private equity firm, Carlyle is in talks with Indian dairy firm Anik Industries to invest $30.46m for a stake in the business.
Anik Industries sells its dairy products under two brand names, Anik for butter, skimmed milk powder, dairy mix and Saurabh for whole milk, ghee and spray dried.
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No details regarding the size of the stake were disclosed. A source told just-food.com that the company has been looking to expand its operations to states apart from Central India and the investment will help achieve this.
The company plans to market its products in the Western and Eastern states as the market demand for milk and milk products has witnessed a significant rise in India over the last few years, the source adds.
In June this year the company in a bourse filing said the Board had discussed the dairy business and agreed there was a need for restructuring or strategic action.
The company also has interests in real estate and agri commodities.
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