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HSIL, the maker of 'Hindware' sanitary-ware brand, will acquire Havells' whole business of manufacturing and dealing in bathroom fittings and accessories under the brand ‘Crabtree’
Somany Group company Hindustan Sanitary Ware and Industries Ltd (HSIL) on Friday said that it is acquiring electrical goods maker Havells India's bathroom accessories and fittings business for an undisclosed amount, reports PTI.
The company said that it has entered into an agreement with Havells India, whereby it will acquire its whole business undertakings engaged in manufacturing and dealing in bathroom fittings and accessories under the brand ‘Crabtree’.
"With this acquisition, HSIL will have modern faucet manufacturing facilities, additional distribution network and additional sales volumes," the company said in a statement.
Havells' faucet manufacturing unit is situated at Bhiwadi in Rajasthan.
It also said that the acquisition will help in expanding its building products division and "get competitive advantage in (the) institutional and project segments."
The Rs800-crore company, which sells sanitary ware under the 'Hindware' brand, is one of the market leaders in the segment, with over 1,200 distributors and 12,000 retailers across the country.
In the last two-three years, HSIL had expanded the 'Hindware’ brand by adding its building products portfolio, which includes PVC cisterns, bathtubs, shower systems and kitchen appliances.