Heritage Foods Limited has acquired the remaining 5.60% equity stake in its subsidiary, Heritage Novandie Foods Limited (HNFL), becoming the company’s sole owner with 100% shareholding effective October 16, 2026. According to the company’s regulatory disclosure reported by Business Upturn, the acquisition was completed when the shares were credited to Heritage Foods’ demat account on October 16. Before the transaction, Heritage Foods held a 94.40% stake in HNFL, while France-based Novandie retained the remaining 5.60%.
The acquisition follows a series of regulatory updates issued on July 16, August 29 and October 10, 2026, documenting the board’s approval, progress of the share transfer and payment of the purchase consideration. Heritage Novandie Foods was incorporated on November 28, 2017, as a 50:50 joint venture between Hyderabad-based Heritage Foods and Novandie of France, with the objective of manufacturing and marketing yoghurt and other dairy products in India.
Commercial operations began on February 17, 2021, at its manufacturing plant in Durves village, Palghar, Maharashtra. Following an earlier transfer of shares from Novandie in 2025, Heritage Foods increased its ownership to 94.40%, making HNFL a subsidiary. The latest acquisition completes the ownership consolidation.
HNFL’s reported turnover rose from ₹27.63 million in FY2022–23 to ₹41.46 million in FY2023–24 and ₹68.90 million in FY2024–25, equivalent to ₹2.763 crore, ₹4.146 crore and ₹6.89 crore, respectively. The transaction strengthens Heritage Foods’ direct ownership of its value-added dairy business and gives it full equity control over HNFL’s future strategic and operational direction. The company has positioned the acquisition as part of its longer-term focus on value-added dairy products, including yoghurt and other dairy categories. However, the acquisition announcement does not independently quantify the expected financial benefits, operational synergies or impact on profitability.
Source: Dairynews7x7 17 Oct, 2026 Read full story here
#HeritageFoods #HeritageNovandieFoods #DairyIndustry #ValueAddedDairy #YoghurtMarket #DairyBusiness #IndianDairyIndustry
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