Ahmedabad-based chemical and textiles company GHCL has acquired 100 per cent shares of UKs retail chain, Rosebys $for 40 million. The acquisition will provide the opportunity to GHCL to leverage Rosebys established platform across the European Union markets and a renowned global brand.
The equity cost of the acquisition will be funded through the resources raised from various domestic and foreign institutions in the recent past. Post acquisition, GHCL will become a fully integrated home textile company with presence across spinning, weaving, product design and development, sourcing and distribution to retail stores.
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| Posted : 6/20/2006 |
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