Sirca Paints India Acquires Wembley Group for Rs. 81.5 Crores
Sirca Paints India Limited (SPIL) has acquired the business undertaking of Wembley Group, which includes Wembley Paints and Chemicals, Indo Wembley Paints Pvt. Ltd., and Wembley Sales Corporation. The acquisition, valued at Rs. 81.5 crores, involves the sale and distribution of products, technical know-how, intellectual property rights, customer and vendor relationships, digital assets, and identified employees of the Wembley Group. The transaction does not include the manufacturing facilities of the Wembley Group but grants SPIL the exclusive right to use the intellectual property belonging to Wembley Group in connection with the sale of products. This strategic move is expected to boost SPIL's turnover and strengthen its market position in India’s growing paint and coatings sector.
Key Highlights
- Sirca Paints India has acquired the business undertaking of Wembley Group for Rs. 81.5 crores.
- The acquisition includes the sale and distribution of products, technical know-how, intellectual property rights, customer and vendor relationships, digital assets, and identified employees of the Wembley Group.
- The transaction does not include the manufacturing facilities of the Wembley Group, but SPIL has exclusive rights to use Wembley Group's intellectual property for product sales.
- This acquisition is expected to boost SPIL's turnover and strengthen its market position in India’s growing paint and coatings sector.