Prabhat Dairy Private Limited has received an investment of 140 crore from India Agribusiness fund, a private equity fund sponsored by Robobank and Proparco, a French development finance institution.
Sarangdhar Nirmal, Chairman, Prabhat Dairy Private Limited, says, "We welcome India Agribusiness fund and Proparco as our partners in Prabhat's future growth. We remain focused on implementing our strategy of being a key supplier of value added dairy products to multinationals and large domestic companies."
Prabhat dairy private limited is a leading private dairy company in India which supplies dairy based food ingredients to multinationals and leading Indian food and beverage companies.
The company intends to utilize the investment to start a new manufacturing unit at Vashi, for morning milk, yoghurt and ice cream, and also to expand its facilities in Shrirampur to include products such as cheese and UHT milk and also increase existing capacities of their products.
"We are delighted to be partnering Prabhat in its next phase of growth.
Dairy sector is the core focus of Rabobank worldwide and there is a wealth of sector knowledge in the bank, I am confident that we will bring a lot of value add in the company," says, Rajesh Srivastava, Chairman and Managing Director, Rabo equity.
