Supreme Industries Ltd. on Tuesday informed the exchanges that it has signed a Memorandum of Understanding (MOU) with Wavin Industries on March 10, 2025, for the acquisition of its Indian Piping business for $30 million.The acquisition is expected to be completed by June 30, 2025.
Simultaneous to the above acquisition, the company will have exclusive access to all existing technologies from Wavin BV – Netherlands (parent company) and other new technologies to be developed during a period of seven years for India and SAARC countries.
The acquisition is in the same line of existing business, which is manufacturing plastics piping systems.
This will be subject to due diligence and applicable regulatory approvals, the company said in an exchange filing.The acquisition of Wavin India would result in increasing the capacity of the piping division by 73,000 MT per annum. The acquisition will facilitate catering to districts/area of North and South India economically and efficiently, the company said.
Simultaneous to the above acquisition, the company will have exclusive access to all existing technologies from Wavin BV – Netherlands (parent company) and other new technologies to be developed during a period of seven years for India and SAARC countries.
The acquisition is in the same line of existing business, which is manufacturing plastics piping systems.
This will be subject to due diligence and applicable regulatory approvals, the company said in an exchange filing.The acquisition of Wavin India would result in increasing the capacity of the piping division by 73,000 MT per annum. The acquisition will facilitate catering to districts/area of North and South India economically and efficiently, the company said.
In case of acquisition of shares, statutory approval under FEMA will be required.
Wavin India was incorporated on August 30, 2007. The company is in the business of manufacturing piping systems under the brand Wavin and part of the Orbia Group.
Product turnover for the past three financial years for FY22, FY23, and FY24 were ₹953.70 crore, ₹1,112.70 crore, and ₹1,007.50 crore, respectively.
Shares of Supreme Industries Ltd. are trading flat at ₹3,313.50. The stock has declined 30% so far in 2025.
