Dodla Dairy acquires Osam Dairy for Rs 271 cr
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New Delhi: South India-based Dodla Dairy on Friday announced the acquisition of eastern India's premium dairy brand Osam Dairy for Rs 271 crore, marking a significant expansion into the high-growth eastern market.The 100 per cent acquisition of Osam Dairy represents one of the first large-scale deals in eastern India's dairy sector and underscores the region's potential to attract institutional capital, the companies said in a joint statement."We are thrilled to announce the proposed acquisition of Osam, marking a significant milestone in Dodla's journey. This strategic move underscores our commitment to becoming a pan-India dairy company," Dodla Dairy Managing Director Dodla Sunil Reddy said.He said eastern India is an exciting market for the dairy industry with faster growth compared to the national average, supported by high urbanisation potential and strong GDP growth.The transaction marks an exit for Osam Dairy's promoters Abhinav Shah and Harsh Thakkar, along with private equity investors who had backed the company."This acquisition marks the beginning of Osam's next chapter. Over the past decade, we've built a strong foundation, and joining hands with Dodla will accelerate the company's growth," Shah, the outgoing Osam Dairy CEO, said. InCred Capital acted as the exclusive financial advisor to Osam Dairy and its shareholders on the acquisition, which was completed in just over four months."This transaction represents a landmark moment for Osam Dairy, which has carved a distinct niche in the competitive dairy sector of Eastern India," InCred Capital Managing Director Ashish Ambwani said.
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