- Brand renowned for pedigreed capabilities in technology and design aesthetics
- Set up is geared to offer continuously refreshed product portfolio –key to this market
- HIL to expand the offering in India and neighbouring countries
National, July 15, 2018: HIL, part of the USD 1.8 billion diversified CK Birla Group, today announced the acquisition of Parador Holdings GmbH, a Germany based, vertically integrated, full-range supplier which designs, manufactures and distributes a wide range of flooring solutions including resilient flooring, laminate and engineered wood floors, wall & ceiling panels, skirtings and related accessories.
Parador, with the turnover of €142.2 million,is the category leader in design and innovation with all products developed internally and produced with “Made in Germany” and “Made in Austria” quality. The Company has long-standing relationships with all major customers in Europe. The combined entity will continue to enjoy a leadership position in Building Material segment in India with strong capabilities in Europe.Parador has a history of profitable operations and expects sustained growth in revenues and earnings going forward.
The acquisition will enable HIL’s transition into a global player in the Building Materials segment. It will facilitate entry into Flooring Solutions, a segment, which is highly complementary to HIL’s current product portfolio and also provide a renowned brand with strong R&D and design capabilities.
The strong leadership team at the helm, at Parador will continue to be responsible for day to day operations and drive the business forward.
Mr. CK Birla, Chairman of the CK Birla Group, said: “The acquisition of Parador fits into our strategic roadmap and is an important step towards becoming a global player in the building materials industry. It also enables us to enter into adjacent categories for future growth. Parador’s strong developmental capabilities will enable us to build flooring solution products suited to India and South East Asian markets.”
Mr. Dhirup Roy Choudhary, Managing Director& CEO of HIL said “With world class development capabilities and strong customer relationships, we foundParador flooring solutions to be a great alignment with our existing offerings at HIL and it takes us closer to our aspiration of one stop shop for all Building Materials and products. The synergistic combination of complimentary portfolios will create a stronger global business. We believe that we will be able to expand the product sales into India and other South East Asian nations, which will enable us to drive faster growth.”
The acquisition comes at an attractive valuation and remains subject to antitrust filings in Germany and other relevant regulatory approvals.
out with its signature True Fit technology that has created a benchmark in the piping industry. The company is committed to health and safety practices, which is reflected through its vast range of products that are environmentally viable and conducive. Given its strong emphasis on customer centricity, HIL Limited also ensures a widespread reach through an extensive sales and distribution network spread across the country, with a representation in all the states. Its strengths are truly its employees, loyal dealers and satisfied customers.
Corporate Comm India(CCI Newswire)
