The Hindu Business Line : Parryware Roca eyes acquisitions

NEW DELHI: Parryware Roca, a joint venture of Murugappa Group and global leader in sanitary ware Roca, on Tuesday said it plans to invest about 130 million euros (Rs 750 crore) in two years for acquisitions and expansion in India.

"Every year we will invest about 12-15 million euros for both marketing activities and scaling up manufacturing,'' Parryware Roca Chairman, Mr A Vellayan told reporters here. He said considering the history of the parent companies of the joint venture, a cquisitions in the Indian market were very much on the agenda.

"For the next two years, our acquisition budget for the Indian market is about 100 million euros. We are on the look out for brands here,'' Domingo Colomo Prados, Roca Corporacion Empresarial Senior Managing Director of Executive Board, said.

The joint venture is looking out for both regional and national brands, which can add value to its portfolio, he added.

Parryware Roca launched its first range of products in the premium segment of the bathroom and sanitary ware solutions priced at Rs 1.5 lakh onwards.

The company is eyeing 10 per cent market share of the Rs 100 crore organised top-end segment in the next two years. - PTI

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