Acrysil, one of the leading kitchen sink manufacturing and trading companies, has acquired additional 13% equity shares of Homestyle Products through its wholly owned subsidiary Acrysil UK. The total stake of Acrysil through Acrysil UK in Homestyle Products is now increased to 87%. Acrysil through its wholly owned subsidiary Acrysil UK have right to purchase the remaining 13% of the share capital in Homestyle Products over a period of three years from the date of first acquisition.
Acrysil and its UK subsidiary, Acrysil UK, had entered into a definitive agreement for the acquisition of UK-based kitchen sinks distribution company Homestyle Products for a Gross Enterprise Value (100% stake) at 2.8 million pound (amounting Rs 27.3 crore) on a debt free cash free basis on completion of the acquisition. Acrysil had acquired 74% of the share capital in Homestyle Products through its wholly owned subsidiary Aciysil UK.
Acrysil is a small company but enjoys a virtual monopoly in the organized Kitchen Sink business.
