Comments
Kitchen sink manufacturer Acrysil today said it has acquired 74 per cent stake in UK-based Homestyle Products for Rs 20.50 crore.
The company’s overseas subsidiary Acrysil UK Ltd acquired 74 per cent stake in kitchen sink Distribution Company Homestyle Products for Rs 20.50 crore, a release issued here said.
The investment, which will be funded through internal accruals, marks the entry of Acrysil into the premium UK market for kitchen sinks and accessories, it said.
As per the agreement, the company can acquire the remaining 26 per cent over a period of three years.
“The acquisition will give a tremendous boost to Acrysil’s business on account of the multiple opportunities that it opens up for the company,” it said.
Acrysil exports products to more than 35 countries including USA, France, Germany, Russia and countries in the Far East and Middle East. In FY14, exports accounted for nearly 74 per cent of its turnover.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.