Anik Dairy, owned by dairy major Lactalis Group, has named Subhashis Basu as its new chief executive officer. Basu will be moving on from snacks maker Prataap Snacks NSE 0.28 % where he has been chief operating officer for over four years. Officials aware of the development said Basu is set to assume the new role later this month,

Basu was previously with Mother Dairy, prior to his role at Prataap Snacks. At Prataap, Basu steered the company to its public listing, and diversification into sweet snacks through fully-owned subsidiary company Pure n Sure Food Bites, which was later integrated with the parent company.

A strategic market for the French dairy maker, last fiscal Lactalis India reported a turnover of Rs 4,000 crore.

The move comes at a time when the dairy sector is witnessing heightened competition and double digit growth, amid increased trends for in-home consumption of packaged foods, dairy and beverages. Lactalis India, part of France’s Lactalis Group, acquired Thirumala milk dairy in 2014, after which it also acquired Anik and Prabhat in 2016 and 2018 respectively.

Source : The Economic Times Sep 15th 2021by Ratna Bhushan