India, April 18 -- French dairy giant has been in the news for allegedly cheating farmers back home, for its secretive business model and for the quality of its products
On March 27, 2019, the Competition Commission of India approved the proposed takeover of Prabhat Dairy's subsidiary, Sunfresh Agro Industries, by Tirumala Milk Products, a subsidiary of French multinational Lactalis for Rs 1,700 crore.
Prabhat Dairy has a network of more than 75,000 farmers in Maharashtra that collects around 200,000 litres of milk every day.
The dairy's takeover was the second Indian acquisition by Lactalis, the world's second-largest dairy multinational. In 2014, it took over Hyderabad-based Tirumala Milk Products Pvt Ltd for Rs 1,750 crore. Tirumala m...