FrieslandCampina has refused to comment over speculation it is in discussions to buy a majority stake in Indian dairy firm Parag Milk Foods.

The Economic Times, citing “people with direct knowledge of the deal”, claimed the Dutch dairy giant was looking to acquire 60-75% of Parag.

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A spokesperson for FrieslandCampina however told just-food today (12 May) it did “not comment on rumours”.

FrieslandCampina, which has operations in a number of markets across Asia and Africa, does not have a presence in India

Parag Milk Foods produces a range of dairy products including fresh and homogenised milk, ghee, yoghurt, butter and cheese. It also exports to the Middle East, Africa and South East Asia.

Parag did not respond to requests for comment when approached by just-food.

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The last major investment from a dairy multinational in India came in January when Lactalis acquired Tirumala Milk Products.