India : Kiri Dyes SPV completes US based DyStar acquisition

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Home / Knowledge / News / Textiles / Kiri Dyes SPV completes US based DyStar acquisition

Kiri Dyes SPV completes US based DyStar acquisition

02
Nov '10

Kiri Dyes and Chemicals Ltd announced that the Company has successfully completed its acquisition of US based DyStar Companies through its SPV, Kiri Holding Singapore Private Limited, w, e. f. October 29, 2010 in the US.

The acquired companies employ 126 people. These companies manufacture and sell dyes and auxiliaries as well as other chemicals in North America, Central America, and Canada, and have revenue more than 100 million US Dollars.

DyStar CEO Steve Barron: “I am more than happy that DyStar L.P. will join the new DyStar Group. This allows us to further develop the successful DyStar business in the USA, Canada and Central America and grow our relationship with US retailers.”

The DyStar Companies in North America are currently owned by Platinum Equity, USA. Headquartered in Charlotte, North Carolina, DyStar North America with its sales organization and Color Solutions International runs also a production site and warehouse in Reidsville, North Carolina, and a warehouse in Southgate, California.

With textile dyes from DyStar and textile auxiliaries as well as leather chemicals produced in Reidsville, DyStar North America has a revenue of greater than 100 million US dollars. It is market leader in many product segments and has grown significantly in 2010.

For the DyStar shareholder, the acquisition makes perfect sense. Manish Kiri, Co-Chairman of the DyStar Group: “It is our intention to build a sustainable global DyStar organization. For that, we need a powerful sales organization in North and Central America and maintain the retailer connection.” Weixiang Ruan, Co-Chairman and Co-Owner of DyStar: “I appreciate DyStar management team's good effort to conclude the acquisition. This will certainly help DyStar to provide its services across the entire globe. As the global market leader in the industry, I am confident we can generate more value to our customers worldwide with continuous improved quality and solutions.”

Kiri Dyes and Chemicals Limited, was incorporated on 14th May 1998 as a Kiri Dyes and Chemicals Private Limited at Ahmedabad, Gujarat KDCL has been promoted by Mr Pravin A. Kiri and Mr. Manish P. Kiri. KDCL is engaged in the business of manufacturing of reactive dyes which are called synthetic organic dyes used for cotton fabrics like garments, dress materials, bed-sheets, carpets etc. The dyes are of basically colours like black, blue, red, orange, yellow and numerous variants of these basic colours identified by color index number internationally.

Kiri Dyes and Chemicals Ltd

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