Company Overview of Tirumala Milk Products (P) Ltd
Tirumala Milk Products (P) Ltd. produces and supplies dairy products in India. Its products include milk in sachets; sweets; flavored milk; curd in cups and sachets; milk powder; butter; and ghee and butter oil in bulk and consumer packs. The company distributes its products in Andhra Pradesh, Karnataka, and Tamil Nadu. Tirumala Milk Products (P) Ltd. was founded in 1998 and is based in Hyderabad, India.
204, Dharam Karam Road
Founded in 1998
Key Executives for Tirumala Milk Products (P) Ltd
Managing Director and Director
Joint Managing Director and Director
Assistant General Manager of Finance & Accounts
Senior General Manager of Gudur Plant
Compensation as of Fiscal Year 2013.
Tirumala Milk Products (P) Ltd Key Developments
Lactalis Is Reportedly Close To Sealing Deal To Buy 70% Stake In Tirumala
Dec 5 13
Groupe Lactalis S.A. close to sealing a deal to buy a 70% stake in Tirumala Milk Products (P) Ltd, French daily Les Echos said. A deal, which could be signed by the end of December 2013 would value Tirumala at around €220 million, the paper said, citing sources as well as Indian media reports. A spokesman for Lactalis declined to comment on the report. The Carlyle Group LP (NasdaqGS:CG) owns a 20% stake, would sell its holding, the paper said. Tirumala's four founders, who own a combined 80% stake, would sell 50%, resulting in Lactalis owning 70%.
Lactalis In Talks To Buy Majority Stake In Tirumala Milk
Nov 13 13
Groupe Lactalis S.A. is in talks to purchase a majority stake in Tirumala Milk Products (P) Ltd. It is close to signing an agreement with shareholders of Tirumala, reported The Economic Times citing sources familiar with the matter. Lactalis could pay up to $300 million for a 70% stake in Tirumala Milk. Bolla Bramha Naidu, one of the four founders of Tirumala Milk Products, was quoted by the news agency as saying, "Majority of promoters is now in favour of selling their stake to the French company though I am not keen on divesting stake. But I have no other option than to go by the majority decision." "The negotiations are still on and clarity over exact stake sale could take a few more days," he added. The Carlyle Group LP (NasdaqGS:CG) would reportedly sell its 20% share, while another 50% would be divested by the four promoters.
TPG, Danone Reportedly In Talks To Acquire Tirumala
Oct 31 13
TPG Capital, L.P., Danone (ENXTPA:BN) are in advanced talks to acquire Tirumala Milk Products (P) Ltd, backed by The Carlyle Group LP (NasdaqGS:CG). Two people close to the matter stated that the firms are in talks with promoters and investors of Tirumala to acquire the later, valued at INR 2 billion. A person stated, “The buyers are looking at 75%-80% stake for INR 1.8 billion. The company will soon enter into exclusive talks with Danone.” The news report stated that Puneet Bhatia, Head of TPG India and M Shankar Narayanan, Managing Director of Carlyle did not elicit response. Danda Brahmanandam, Bolla Bramha Naidu, B Nageswara Rao and N Venkata Rao, the four promoters of Tirumala Milk, currently own 80% stake in the Tirumala. According to the report, B Nageswara Rao, Director and Founder said though Carlyle was also looking at selling their 20% stake by mandating investment bankers, there was no significant progress for want of better valuations. Tirumala’s MD Danda Brahmanandam said, “We have provided all the details on the company’s performance including financial data to the prospective buyers to enable them to take a call on valuations.”
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