Heritage Foods completes acquisition of Reliance Retail’s dairy biz

12/04/2017 15:27

Hyderabad-based Heritage Foods on Wednesday said that it has completed acquisition of dairy business of Reliance Retail (RRL) effective from April 12, 2017.

“We have received the approved from Competition Commission of India (CCI) and completed the process of acquisition of dairy business of Reliance Retail and we are taking control of entire dairy business of RRL, with effective from April 12, 2017,” said Heritage Foods in a filing to the Bombay Stock Exchange.

Post the transaction closure, RRL will continue to trade in dairy products including Heritage dairy products through its retail and wholesale channels, it added.

Earlier on October 28, 2016, Heritage Foods had entered into an agreement to acquire the dairy business of Reliance Retail Ltd through slump sale.

Meanwhile, shares of company closed day’s trade at Rs 1075.00 apiece, up 0.37 per cent, on the Bombay Stock Exchange.

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