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 Corporate - Mergers & Acquisitions
House of Pearl buys 50% in UK co

Coimbatore, Dec 6

House of Pearl Fashions Ltd (HOPFL) has acquired 50 per cent stake in the UK-based marketing company, FX Imports Ltd, through its subsidiary in the UK - Poeticgem Ltd. HOPFL would get control of the board. The company has been working at strengthening its distribution muscle in the overseas markets. The acquisition will benefit the company in expanding its customer base into high fashion mid-market segment. FX Imports Ltd is a leading marketing company in the UK, catering to mid-market fashion retailers. FX Imports clocked a revenue of Rs 80 crore last fiscal and is projected to touch an annual revenue figure of Rs 200 crore in three years. The acquisition will be funded through internal accruals. HOPFL has the option to buy the balance 50 per cent stake from the promoters of FX Import Ltd, in the next five years. - Our Bureau

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