Himatsingka Seide acquires DWI Holdings of US

MUMBAI: Himatsingka Seide Ltd has acquired 100 per cent stake in DWI Holdings of the US through its subsidiary Himatsingka America. The enterprise value for the transaction was $30 million.

Speaking on recent acquisitions--Giuseppe Bellora in February and Divatex Home Fashions in July, Shrikant Himatsingka, executive director, Himatsingka Seide, said, “the three acquired entities will collectively contribute Rs 1,100 crore in annual revenues.

They will consume the entire capacity of the recently commissioned Rs 400 crore bedding facility. The group is planning to bring the five strong brands under its fold to India and other Asian markets. The revenues from our global distribution arms will help us to achieve Rs 1,200-1,300 crore in revenues next year.”

At 10:01am, Himatsingka Seide shares were up 0.48 at Rs 105.55 on BSE.