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Somany Buys 26 % of Commander Vitrified

Tile maker Somany Ceramics acquired 26 % stake in Gujarat-based Commander Vitrified (CVPL) for IND 3,25 million.

Consequent upon this deal, Somany shall have 100 % access to the CVPL’s manufacturing capacity of 2,65 Mm2/a of polished and glazed vitrified tiles. As per a Memorandum of Understanding signed with CVPL and its promoters, Somany has an option to further increase its stake to 51 % in future. The production on the state-of-the-art Italian plant of CVPL in Morbi, Gujarat, for large-format tiles will commence by end of May. Value-added large format tiles have a huge demand globally. An additional annualised revenue of about IND 100 million from the CVPL plant will be drived; Somany is looking forward to many such robust acquisitions in the coming future. Post acquisition, the annual production capacity of Somany will increase to 35 Mm2, inclusive of the contract manufacturing capacity. At present, Somany has a strong country-wide operational footprint with a wide distribution network, which includes a prudent mix of 1500 dealers, 9000 sub-dealers, and 15 company-owned showrooms in 33 states.

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