January 21, 2014
Delhi-based Kwality Dairy is selling a 15% stake to Rabo Equity Advisors for Rs500cr (US$81.26 million). Kwality processes 1.2 million liters of milk per day and plans to launch a new range of products which it plans to expand into markets in the Middle East, Far East, Bangladesh, and Thailand under the brand name Dairy Best. For the quarter ending September 2013 Kwality saw revenues of Rs1074.35cr(US$174.6 million) and a net profit of Rs29.98cr (US$4.87 million) The Indian dairy sector is expected to double to $140 billion by 2020 and milk production is expected to increase from the current 125 million tons to over 200 million tons by 2016. Rabobank’s private equity India Agribusiness Fund’s portfolio includes Prabhat Dairy, GeePee Agri Private Ltd, Daawat Foods, and Super Agri Seeds.
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