Anil Hospitality Acquires Vigo Bio-Tech For $5.3 Mn
Anil Group has acquired 90% stake in Vigo Bio-tech Dairy Pvt Ltd for about $5.3 Mn, valuing it close $ 6 Mn. Anil Group has made the acquisition through Anil Hospitality Ventures Ltd.
Anil Group is Ahmedabad based food and bio-industrial company. It also runs a chain of dining halls and cafes in Gujarat. It is also planning to foray into the food processing sector by acquiring operating in distribution and production of milk products. Anil Group has planned an investment of Rs 75 to Rs 100 crore to scale up the operations of the acquired entity in next 12 to 18 months.
Vigo Bio-Tech was started by Amrish Patel – an Electronics Engineer in 2008. It operates from Nurpura, Gujarat. It has 600 Holstein-Friesian hybrid cows that are milked using Irish technology.
The acquisition will help Anil to harness Vigo's expertise to address the entire value chain of dairy farming, including milk production and milk products. So far the company has been operating in various stages of farm-to-fork value chain and now it has decided to move up the value chain.
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