Global dairy giants Danone & Fonterra looking for a stake in Tirumala Milk

Nov 20, 2012: The promoters of Tirumala Milk Products which is the second largest supplier of liquid milk in southern states of India are looking forward to dilute their equity. The company processes 1.6 million litres of milk and has an annual turnover of Rs. 1,500 crore. 20% of the share in Tirumala Milk is held by Carlyle and rest 80% share is with five first generation entrepreneurs. They are planning to give a controlling stake by raising Rs. 2,500 crore. The investors who have expressed interest include global dairy giants Danone which is a French company and New Zealand based Fonterra.