acrysil picks 74 per cent stake in uk-based homestyle products

by:Top Home     2019-12-06
: Acrysil Limited, maker of quartz and stainless steel kitchen sinks, said on Tuesday it had acquired a stake in 74 in the UK
Home Style products based on the kitchen sink distribution company Rs 20. 50 crore.
The acquisition agreement signed by Acrysil Co. , Ltd. , Acrysil UK Co. , Ltd. and shareholders of household products stipulates that Acrysil UK will purchase the remaining 26% share capital of family style products within three years.
A company statement said the deal was financed through internal Accrued projects and debt.
The company achieved turnover 2.
35 million (
About 23 rupees)
EBITDA is 0.
54 million (approx Rs 5. 3 crore)
The year ending June 2014
The investment will mark the entry of Acrysil into the UK market for high-end kitchen sinks and accessories.
Acrysil products are currently exported to 35 countries around the world, including the United States, France, Germany and Russia, as well as Far East and Middle East countries.
In fiscal 14, exports accounted for nearly 74 of Acrysil\'s turnover.
In addition to kitchen sinks including composite quartz granite sinks and stainless steel sinks, Acrysil also operates kitchen buildings
Electrical appliances and faucets.
Acrysil has the \"CARYSIL\" brand, which has a good reputation in India and several overseas markets.
In the future, Acrysil plans to use the home product marketing network to launch products such as kitchen chimneys and stoves in the UK market.
Acrysil will also use the home products platform to cater to the European market and accelerate the growth of its exports to Europe, the press release said.
Deloitte Tohmatsu India Pvt Co. , Ltd. and CMS Cameron McKenna LLP served as the transaction consultant and legal counsel for Acrysil, respectively.
Dow Shaw field Watt Company Finance Co. , Ltd. and Squire Barton bogus (UK)
LLP serves as a trading consultant and legal adviser to Home Products shareholders respectively.
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