MOPE Investment Advisors has invested Rs 90 crore (INR 900 million) in Kurlon Enterprise Ltd, a mattress and foam manufacturing company. The company would use the funds for capacity addition, deepening distribution network and brand enrichment.
Set up in 1962, Kurlon offers a wide range of home comfort solutions ranging from mattresses (RC mattress, spring mattress and foam mattress), polyurethane foam, and home furniture and furnishing products.
The investment was made by India Business Excellence Fund-II and India Business Excellence Fund-IIA, funds managed and advised by MOPE.
“Partnering with Motilal Oswal Private Equity will help the company achieve its goal of becoming the largest and the fastest growing mattress and foam manufacturer in the country while continuously improving its market share and strengthening the ‘Kurlon’ brand,” said T Sudhakar Pai, Chairman and Managing Director of Kurlon.
Kurlon has a strong Pan-India sales and distribution network supported by 4 centralised warehouses, 72 area sales offices, 160 exclusive showrooms and more than 4000 dealers and retailers.