"Nestle expects milk business to account for a turnover of about Rs 150 crore in the next 3-5 years," the company said adding the company is looking for setting up of a facility for milk in the southern part of the country "with a partner or on its own".It did not elaborate on the investment or the names oft he partners it seeks to tie up with.

Nestle launched two packaged milk products - `Nestle Growing Up Milk' and `Nestle Cereal Milk Drink', recently after conducting a feasibility study for the prospects of branded milk in India. "Nestle will launch the products in North India in the next six months, for which the company's Moga factory could be the manufacturing base," the release said.

Meanwhile, the Argentinian arm of Nestle continued its acquisition binge and announced decision to buy the pet food business of Cargill SACI.