Somany Group company Hindustan Sanitary ware & Industries (HSIL) today said it is acquiring electrical goods maker Havells India's bathroom accessories and fittings business for an disclosed amount.
The company said 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, Rajasthan.
It also said the acquisition will help in expanding its building products division and "get competitive advantage in institutional and project segment."
The Rs 800-crore company, which sells sanitary ware under '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, bath tubs, shower systems and kitchen appliances.
