GHCL arm acquires H W Baker

Dan River, a step down subsidiary of textiles and soda ash maker GHCL Ltd, has acquired the assets of H W Baker Lenin Co in US for $ 6.75 million (Rs 30.09 crore) through competitive bidding process.

H W Baker Lenin Co is engaged in the business of supplying textile products and amenities to hotels and motels in the United States. It is a division of the Best Manufacturing Group, a supplier of textile and non-textile products.

"The acquisition would strengthen Dan River's position in the fast growing hospitality industry in the USA," said Sanjay Dalmia, chairman, GHCL, a part of Dalmia Group.

The move would help GHCL become a dominant player in the home textile industry in the US as well as the global market, he said.

"It would be an ideal combination of a strong and low-cost manufacturing base and a large established marketing platform," Dalmia added.

A year ago, GHCL, through its internationsl subsidiary, had acquired Dan River Inc, a leading textiles player in the US, for $17.50 million. It also acquired 100 per cent shares of UK-based home textiles retailer, Rosebys, in June this year.