Godrej Agrovet and Gold Coin Group enter into an alliance

Mumbai, July 19 (UNI) Godrej Agrovet Limited (GAVL) and Gold Coin Group has signed an agreement to form a JV in India to consolidate their aquafeed businesses.

The new Company will be named as Godrej Gold Coin Aquafeed Limited (GGCAL) with 51% shareholding by Gold Coin Group and 49% by GAVL.

The JV will expect to combine the vast experience of the Gold Coin Group in the aquafeed business and the strength of, Godrej Group for Indian aquafeed markets.

In a statement here today, Mr CK Vaidya, Managing Director, Godrej Agrovet Limited said, ''GAVL has been a leading player in the animal feed business in India. We have a strong presence in shrimp feed too. We are pleased to enter into an alliance with the Gold Coin Group as their vast expertise and technical knowledge will help us to consolidate our position in the Aquafeed business''.

Mr JC Filippi, CEO, Gold Coin Group stated, ''We are delighted about our association with Godrej Group. The strength of Godrej Group combined with our knowledge and experience in the aquafeed business will help us to gain better market share of aquafeed business in India. As both the Groups share excellent track record, I am confident that we will together be able to bring in better products and services to the growing aquafeed business in India''.

UNI AR PM SKB1923