JK Tyres acquires Cavendish Industries for Rs 2200 crore

NEW DELHI: JK Tyre & Industries today said it has completed acquisition of Cavendish Industries which houses three tyre business undertakings of Birla Tyres at an enterprise value of Rs 2200 crore.

The plants are located at Laksar (Haridwar), which manufactures a range of tyre, tubes and flaps.

The acquisition has been funded through a combination of internal accruals and debt.

With this acquisition JK Tyres will have 12 manufacturing units across India and Mexico.