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Pidilite acquires adhesive business of Bluecoat
27
Sep '14
Mumbai & India-based producer of speciality chemicals, Pidilite Industries said it has acquired the adhesive business of Ahmedabad-based Bluecoat Private Limited.

The transaction was concluded on a slump sale basis for a consideration of Rs 263.57 crore, Pidilite said in a press release.

Bluecoat Pvt Ltd which has its manufacturing facility at Baddi, Himachal Pradesh, produces a wide range of adhesives and textile printing chemicals under the ‘Bluecoat’ brand name.

Blue Coat has within its portfolio brands which include Bluecoat Plus, Bluecoat Marine, Bluecoat D3, Bluecoat Aqua, Bluecoat Dual, Bluegrip 5000, Bluecoat A1, among others.

"Pidilite Industries will continue to support and grow these brands," it said.

The acquisition is expected to help Pidilite Industries, further reinforce its industrial products business. (AR)

Fibre2fashion News Desk - India

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