Manipal-based home fragrance company Primacy Industries is set to acquire the US-based Midwest-CBK, a candle, gift, holiday and home decor company, through its US arm MVP Group International.

Post acquisition, the combined entity will have a turnover of $300 million with operations in the US, Europe, India, Vietnam, China and Hong Kong. The acquisition is expected to close before May 31.

The 100-year-old Midwest-CBK was formerly a division of Blyth Inc. Its key brands include Colonial Candle, Seasons of Cannon Falls, and CBK.

Mr Gautham Pai of the Manipal Group and the CMD of Primacy Industries, said: “Primacy-MVP and Midwest-CBK are an excellent strategic fit for each other. Through this acquisition, Primacy gets distribution into more than 30,000 premium independent stores and an entry into the high-end segment.

Primacy-MVP's core competency in global sourcing, strategic marketing and branding initiatives coupled with Midwest-CBK's design and development team and large, established customer base will further our overall growth strategy in the premium channel in branded candles, seasonal decorative accessories, décor and giftware.”

The acquisition will also give Primacy ownership of Midwest's 400,000 sq ft manufacturing facility in North Carolina and distribution centre in Tennessee.

Colonial candle brand

Primacy is looking to bring the Colonial Candle brand into India. It is also in negotiations to bring a few other high-end brands into the country.

Primacy Industries, which currently has a turnover of $200 million, owns the scented candle brand ‘Ekam'. Ekam is available across 400 retail outlets in India. Primacy recently opened Ekam's first exclusive boutique in Mangalore. Ekam is also present in West Asia. The company is looking to take Ekam to the American market as well.

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