Luxor acquires 60% in Playhouse

NEW DELHI: Luxor Group, a writing instruments company, on Monday announced its foray into the education sector with the acquisition of a 60 per cent stake in preparatory school, Playhouse for a consideration of around Rs 50 lakh.

"Luxor has always been associated with education by way of manufacturing writing instruments for children and students. However, with the acquisition of Playhouse we are now even more committed to the cause," Luxor Writing Instruments Pvt Ltd executive director Pooja Jain said.

The company plans to make Playhouse one of the major chains of pre-schools in Delhi within the next 18 months, she said.