Maximus International to Acquire 40% Stake in Quebec Petroleum for ₹18.43 Cr

Maximus International Limited has announced its Board of Directors has approved the acquisition of a 40% equity stake in Vadodara-based Quebec Petroleum Resources Limited for ₹18.43 crore, payable in cash. This strategic move marks Maximus International's entry into India's domestic lubricant market, leveraging Quebec's established manufacturing base, product portfolio, and distribution network. Quebec Petroleum Resources, a manufacturer and distributor of lubricants and petroleum products, reported a turnover of ₹184.73 crore for FY2024-25. The acquisition aims to build an integrated domestic platform for Maximus International, complementing its existing export operations in the Middle East and Africa, and creating operational and market synergies.