Atul has picked up an additional 49% stake in Anchor Adhesives, owner of the Polygrip brand for a cash consideration of Rs 80.27 lakh. It increased the stake in the resins and adhesives manufacturer to 98.99% making it a subsidiary of Atul.
The company held permanent and exclusive rights to use the Polygrip mark since June 2010. Done at arm’s length, promoters, promoter group and group companies of Atul do not have any interest in Anchor Adhesives.
Atul is a member of Lalbhai Group, one of the oldest business houses of India, with interests mainly in textiles and chemicals. The Group is strongly committed to serve the society in the fields of education, health as well as culture.
