The Hatsun Agro Product Limited (HAPL) board, on Wednesday, gave in-principle approval for the acquisition of Hyderabad-based Jyothi Dairy Private Limited.

The Chennai-based company will invest Rs. 65 crore for the acquisition, and further investment into the company, according to a disclosure to the BSE.

Jyothi Dairy was established in 1992, and has a turnover of around Rs. 100 crore.

It has production facilities in Hyderabad, Chittoor, and milk collection facilities at 10 locations across the State.

The Managing Director of the company, R.G. Chandramogan, said the acquisition would help Hatsun expand its operations in Andhra Pradesh.

Hatsun Agro has ten state-of-the-art processing facilities. The company exports products to 38 countries.

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