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Business EconomyPosted at: Mar 12 2024 5:45PM


CK Birla group firm HIL to acquire Topline for Rs 265 crore

New Delhi, March 12 (UNI) CK Birla Group flagship company HIL Ltd on Tuesday said that it has signed an agreement with Crestia Polytech for the acquisition of Topline along with its four wholly-owned subsidiaries Topline Industries, Aditya Polytechnic, Aditya Industries and Sainath Polymers for Rs 265 crore.
Crestia and its subsidiaries, with an estimated turnover of Rs 330 crore in 2023-24, are among strong players in the pipes, fittings and water tank sector with three flagship brands of Topline, Rockwell, and Soniplast.
HIL is a leading manufacturer of home and building materials. It has five major brands namely Charminar, Charminar Fortune, Birla Aerocon, Birla HIL and the German flooring brand, Parador. The company has 25 manufacturing facilities in India, Germany and Austria.
"The agreement to acquire Topline perfectly aligns with our ambition, and is part of our growth strategy for the pipes and fittings business at HIL. The combined synergies of the two organisations will broaden the product portfolio, manufacturing capacity and market reach for us.
Our ambition is to be five times our current size in this category by 2026," said Avanti Birla in a media release.
Akshat Seth, Managing Director, and CEO of HIL said, "This acquisition will enable our entry into large segments such as high-density polyethylene (HDPE), medium density polyethylene (MDPE) and water tanks."
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Tags: #CK Birla group firm HIL to acquire Topline for Rs 265 crore
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