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"The acquisition would help H&R Johnson (India) grow in the bathroom products business." Targeting Rs 1,200 crore turnover during the fiscal

New Delhi May 23 Tile manufacturer H&R Johnson (India) Ltd has acquired 50 per cent stake in Sri Venkateswara Udyog Ltd, a faucet-manufacturer in Baddi (Himachal Pradesh). Following the acquisition, the Baddi-based company has been renamed as Milano Bath Fittings (P) Ltd.

Declining to divulge the size of the investment, Mr Vijay Aggarwal, Managing Director, H&R Johnson (India), said that the acquisition would help the company grow in the bathroom products business.

H&R Johnson markets its sanitary ware and bathroom accessories through its brand, Milano. The brand contributes about 3 per cent to the company's revenues at present. The company is planning to expand the distribution network for its bathroom business. Milano is now retailed through 300 dealers across the country.

The company is planning to double this count in the next one year. A Rs 3-crore marketing campaign is also planned to promote the brand. The new campaign is to be launched by June.

More Stories on : Strategy | Mergers & Acquisitions | Interiors & Homes

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H&R Johnson buys 50% stake in Sri Venkateswara Udyog

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