The Board of Directors of Heritage Foods Ltd, at its meeting held on Friday 25th March 2022, approved the purchase of assets and acquisition of the supply and sales network of M/s Suguna Dairy Products (India ) Private Limited for cash consideration of INR 2.81 Crores.
M/s Suguna Dairy Products (India) Private Limited is engaged in the dairy business (milk and dairy products). The proposed transaction is not to acquire a legal entity, but to purchase assets and acquire the supply and sales network of M/s Suguna Dairy Products (India) Private Limited.
M/s Suguna has its own supply of 15,000 lpd from 2 cooling centers and 10,000 lpd from business associates. Selling around 19,000 lpd/kgpd (milk 17,000 lpd and curd 2,000 kgpd) in markets in southern Tamilnadu and Kerala.
Shares of Heritage Foods Limited last traded in BSE at Rs. 328.90 from the previous close of Rs. 331.70. The total number of shares traded during the day was 16,313 in over 873 trades.
The stock hit an intraday high of Rs. 335.70 and intraday low of 327.60. Net turnover during the day was Rs. 5417614.00.
Source: Stock market bulls