Sirca Paints India acquires Wembley Group's business for $9.5 mn

Sirca Paints India Limited (SPIL) has announced the acquisition of the business undertaking of the Wembley Group, comprising Wembley Paints and Chemicals, Indo Wembley Paints Pvt Ltd, and Wembley Sales Corporation. The acquisition has been executed through a Business Transfer Agreement, marking a strategic move to expand SPIL’s footprint in the Indian paint and coatings market.

Under this agreement, SPIL will acquire the Wembley Group’s sales and distribution business, including technical know-how, product formulations, and all intellectual property rights—both registered and unregistered—linked to its products. This includes brand names, trademarks, customer and vendor relationships, digital assets, and identified employees. The agreement, however, excludes Wembley Group’s manufacturing facilities.

SPIL now holds exclusive rights to use the Wembley Group’s intellectual property for the sale of its product range, which includes thinners, wall paints, enamels, nitrocellulose (NC) coatings, melamine, sanding sealers, and TT Clear, among others.

The acquisition, valued at ₹81.5 crore (~$9.5 million), has been executed on an itemised assets basis. According to the disclosure made to the National Stock Exchange (NSE) and BSE Limited, this is not a related party transaction, and no shareholding or voting rights have been acquired.

The Wembley Group reported a consolidated turnover of ₹68.72 crore (~$8 million) as of 28 February 2025, and the acquisition will add its product portfolio and market presence to SPIL’s existing operations.

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Fibre2Fashion News Desk (HU)