Gokaldas Exports has signed an agreement with Matrix Clothing (MCPL) to acquire 100% of the equity share capital of Matrix Design & Industries for an enterprise value of Rs 489 crore, out of which Rs 247.5 crore is being paid by way of preferential allotment of shares of Gokaldas Exports through share swap.
The Matrix Clothing group is a manufacturer of high-quality men’s, ladies’, and children’s knitwear apparel for renowned brands with major geographical exposure to Europe, the UK, and North America. The group operates out of Gurgaon, Haryana and has five manufacturing facilities (4 in Gurgaon, Haryana and 1 in Ranchi, Jharkhand).
Through this deal, the company receives access to the knit apparel business segments, a mutually exclusive global customer base, greater access to European and the UK markets, geographical diversification and low-cost capacity expansion potential in the future.
Gokaldas Exports is engaged in the designing, manufacturing and exporting of a wide range of apparel products ranging from outerwear, activewear and fashion wear for all seasons.
