India's Godrej Gold Coin Aquafeed to merge with Godrej Agrovet on buyout

India's $2.6 billion Godrej group plans to buy the controlling 51 per cent stake in Godrej Gold Coin Aquafeed from its joint venture partner, Gold Coin, according to the Financial Chronicle. The newspaper said Nadir Godrej, managing director of Godrej Industries confirmed that a deal has been agreed.

Godrej Gold Coin Aquafeed will be merged with the company's animal and aquafeed business, Godrej Agrovet, which has 40 production units across the country and 22 per cent market share, making it one of the largest feed companies in India.

India started farming Penaeus vannameii in 2010 and Goldrej has recently introduced feed for their intensive culture. This is doing extremely well and will be followed by other product introductions,” a Godrej official told the paper.