manufacturer Minda Industries Ltd announced an acquisition of the global
lighting business of Spain based Rinder Group that manufactures automotive
lamps- head lamp, tail lamps and small lamps. The enterprise value for the
total deal is Euro 20Million Rs 146.63 crore approx.) The acquisition includes
100pc equity holding in Rinder India Pvt. Ltd. and Light Systems and Technical
Center, Spain along with 50pc equity holding in Rinder Riducu, Colombia. The
deal will be financed through internal accruals and the debts.
At present in Minda Industries
Ltd, one of the key product is Automotive Lighting, which is being manufactured
at its plants at Manesar, Pune and north of Delhi, having turnover of around Rs
300Cr per annum.
Rinder Group operates in
premium segment of lighting business with annual turnover of Euro 55Mm (Rs 410Cr). Rinder Group has its own technology
and design centre in Spain and will help Minda Group in establishing itself as
a major player in lighting business. Apart from these, synergies in terms of
SOB with customers, suppliers’ rationalization and sharing of resources, will
enhance the profitability of Minda Industries Limited. Deloitte and BMR advised
Uno Minda group on the transaction.
Speaking about the
acquisition, N K Minda, Chairman of Uno Minda Group noted, “This acquisition
will establish Minda Industries Limited as technology leader in lighting
solutions and will further augment the R&D Capabilities of the company.”
With this acquisition, Minda
Industries Ltd., lighting business will have turnover in excess of Rs 700Cr
which is currently around Rs 300Cr per annum, he added further.
“Our vision is to achieve 25pc
of group turnover from International business. The overseas leg of this global
acquisition will ensure that the company moves closer to its vision and expand
its geographical footprints further,” he said.
As a part of the deal,
Rinder’s brand name & intellectual property rights have also been acquired.
Integration & Merger with Uno Minda brand name will be finalised at a later
Rinder India’s plant is
located at Chakan & Pimpri in Pune, Maharashtra and Bahadurgarh, Haryana.
Light Systems and Technical Center is located at Bilbao, Spain and Rinder
Riducu’s plant is situated in Colombia.
Source: Uno Minda
Together with its partners BMW – in the context of the Car Connectivity Consortium – is continuing to press ahead with the development and distribution of the BMW Digital Key. Now the BMW digital key ...
TVS Srichakra Limited, India’s leading manufacturer & exporter of two and three wheelers tyres, participated in the 2021 edition of the EICMA International Exhibition, held from 23rd to 28th of Novemb...
Finally it's that time of the year when we look forward to enjoying the holidays at our favourite destinations and what better way to travel, than on your favourite motorcycle, the all-new Classic 350...