Pune-based Venky's (India) Ltd, an integrated poultry firm, is acquiring poultry and packaging business of its holding firm Venkateshwara Hatcheries Pvt Ltd (VHPL) for Rs 75 crore ($12.31 million), as per a stock market disclosure. The acquisition is expected to be completed by end of this month.
The business being transferred comprises operations in northern region in the states of Haryana, Punjab, Himachal Pradesh and Uttarakhand.
“The acquisition is a part of inorganic expansion plan of the company which will consolidate poultry operations in northern India thereby increasing operational efficiency due to synergy and strengthen the geographical presence for the company in northern India,” the company said.
Venky’s (India) (formerly known as Western Hatcheries Ltd) was established in 1976, mainly to produce day-old layer and broiler chicks for north Indian poultry markets. Over the years, Venky’s embarked upon new ventures and has steadily grown to over 30 units spread across India.
The company's product portfolio includes animal health products, pellet feeds, processed and further processed chicken products, solvent oil extraction and Specific Pathogen Free (SPF) eggs. The company’s SPF egg unit (in technical collaboration with SPAFAS of USA) is among four such units in the world.
Venkateshwara Hatcheries, a part of VH Group which is headquartered in Pune and has offices across the globe in London, Morocco, Switzerland, Syria, South Africa, Brazil, Moscow, UAE, Singapore, Bangladesh, Vietnam, Indonesia and The Philippines. The group has production plants in India, Vietnam, Bangladesh and Switzerland and exports to 42 countries.
In 2010, it acquired UK-based Blackburn Rovers Football Club.
(Edited by Joby Puthuparampil Johnson)