A continuous granulating and drying apparatus (1) comprises a granulator (2) and a fluid bed dryer (3). The fluid bed dryer (3) comprises at least two separate processing compartments (20) forming part of a common vessel (15) being provided with radially extending partition walls (19) separating the processing compartments (20) from each other. Each processing compartment (20) has a product inlet and a product outlet. The fluid bed dryer (3) comprises a granulated product supply conduit (35) arranged rotatably to selectively communicate with the product inlet of each separate processing compartment, respectively, and a product discharge conduit (27) arranged rotatably to selectively communicate with the product outlet of each separate processing compartment, respectively. The granulator (2) and the fluid bed dryer (3) are closely coupled.
