Godrej Agrovet (GAVL), a subsidiary of Godrej Industries, said today that Singapore based investment company, Temasek, will acquire 19.99 per cent stake for Rs 572 crore.
The investment will be a combination of primary and secondary investment with the primary investment intended to support GAVL’s future expansion plans, the company said in a press release.
“We remain focused to improve the productivity of Indian farmers through innovative products and services that sustainably increase crop and livestock yields. We are aggressively expanding rural distribution, increasing our manufacturing capacities, and launching technologies for farmers.
We look forward to partnering with Temasek to further accelerate our performance”, said Balram Singh Yadav, Managing Director of GAVL.
HSBC acted as the advisor to the transaction.
GAVL is engaged in manufacturing agriculture and poultry based products. The company is known for brands such as Real Good Chicken and Yummiez brands. The company operates in 4 business areas-Agri Input, Animal Feed, Oil Palm & Plant Biotech and Godrej Tyson Foods.
