The Hindu Business Line : Parryware Roca eyes brand acquisitions

EXPANDING FACILITIES: Mr Jose Miguel Roca (left), CEO of Roca Corporacion Empresarial-Worldwide, with Mr A. Vellayan, Vice-Chairman, Murugappa Group, at the launch of Parryware Roca high quality range of innovative designer bathroom products in the Capital on Tuesday. — Kamal Narang

New Delhi March 27 The Chennai-based sanitary ware company Parryware Roca Pvt Ltd is on a look out for acquiring brands with an overall investment budget of Rs 750 crore.

The company is a 50:50 joint venture between the Murugappa Group and Spain-headquartered Roca. It is looking for regional as well as national brands.

Part of the investment will also go towards expanding manufacturing facilities and marketing. ``We will invest Rs 70-75 crore every year for the next 3-5 years on expanding facilities and marketing,'' said Mr A. Vellayan, Chairman, Parryware Roca.

The investment will be made in the Alwar and Perundurai plants of the company that currently produce 10 lakh pieces of sanitary ware products every year. The company launched products in the premium bathroom and sanitary ware solutions segment priced at Rs 1.5 lakh upwards.

It is targeting 10 per cent share of the top-end segment of the Rs 850-crore sanitary ware market in the country.

It plans to have 20 showrooms for these products in the country and 30 by next year.