DOMS Industries Acquires Stake in Uniclan Healthcare
By Rediff Money Desk, New Delhi Sep 23, 2024 15:37
DOMS Industries has acquired a 51.77% stake in Uniclan Healthcare, a producer of baby diapers, wipes, and hygiene products, for Rs 54.88 crore. The acquisition will enable DOMS to expand its product range and diversify its portfolio.
New Delhi, Sep 23 (PTI) Stationery and art material maker DOMS Industries Ltd on Monday said it has acquired a 51.77 per cent equity stake in Uniclan Healthcare Pvt Ltd, a producer of baby diapers, wipes, and hygiene products for a total consideration of Rs 54.88 crore.
As a part of the transaction, the company has acquired 71,16,080 equity shares for a total consideration of Rs 54.88 crore, of which Rs 28.88 crore shall be primary infusion, which will be utilised towards capacity expansion, debt repayment and funding working capital requirements by Uniclan, DOMS Industries (DOMS) said in a statement.
DOMS Managing Director Santosh Raveshia said with the investment in Uniclan, the company is entering the baby hygiene segment.
"This acquisition is a crucial step in our long-term strategy to explore new sectors that enhance our business portfolio and resonate well with our targeted focus on children in their growing years," he added.
The acquisition enables DOMS to expand its product range and diversify its product portfolio in line with its overall growth strategy to cater to a broader market, the company said.
Uniclan has a manufacturing facility in Jaipur, Rajasthan with an installed capacity of approximately 400 million pull-up pant style baby diapers per annum which are primarily sold under its flagship brand 'Wowper', it added.
"By leveraging DOMS consumer knowledge and market expertise, we are confident that we can further strengthen our brand and continue to deliver exceptional products to our customers," Uniclan Healthcare Founder and Director, Vatsal Desai said.
As a part of the transaction, the company has acquired 71,16,080 equity shares for a total consideration of Rs 54.88 crore, of which Rs 28.88 crore shall be primary infusion, which will be utilised towards capacity expansion, debt repayment and funding working capital requirements by Uniclan, DOMS Industries (DOMS) said in a statement.
DOMS Managing Director Santosh Raveshia said with the investment in Uniclan, the company is entering the baby hygiene segment.
"This acquisition is a crucial step in our long-term strategy to explore new sectors that enhance our business portfolio and resonate well with our targeted focus on children in their growing years," he added.
The acquisition enables DOMS to expand its product range and diversify its product portfolio in line with its overall growth strategy to cater to a broader market, the company said.
Uniclan has a manufacturing facility in Jaipur, Rajasthan with an installed capacity of approximately 400 million pull-up pant style baby diapers per annum which are primarily sold under its flagship brand 'Wowper', it added.
"By leveraging DOMS consumer knowledge and market expertise, we are confident that we can further strengthen our brand and continue to deliver exceptional products to our customers," Uniclan Healthcare Founder and Director, Vatsal Desai said.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 10.41 (+ 0.48)
- 53727067
- GTL Infrastructure
- 2.41 (+ 4.78)
- 49996392
- Five-Star Business F
- 797.20 ( -1.39)
- 47756593
- Spicejet Ltd.
- 61.84 ( -0.87)
- 37121295
- Reliance Power L
- 44.16 (+ 4.99)
- 36538149
MORE NEWS
Gulf Oil Promoter Sells 4% Stake for Rs 263 Crore
Gulf Oil International Mauritius Inc. sold a 4% stake in Gulf Oil Lubricants India for...
Zaggle Acquires Stakes in Span Across IT &...
Fintech firm Zaggle invests Rs 48 crore in Span Across IT Solutions and Mobileware...
Swiggy Files Updated IPO Papers: Eyes Rs 3,750 Cr
Swiggy files updated IPO papers with Sebi, aiming to raise Rs 3,750 crore through fresh...