HIL to acquire Topline for Rs. 265 crores
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Guwahati: HIL Ltd, a part of the USD 2.9 billion CK Birla Group, has signed an agreement with Crestia Polytech for the acquisition of Topline, a popular brand of pipes and fittings in Eastern India along with Crestia’s four wholly owned subsidiaries Topline Industries, Aditya Polytechnic, Aditya Industries and Sainath Polymers for Rs. 265 crores.
Crestia and its subsidiaries, with an estimated turnover of Rs. 330 crore in FY 24, are strong players in the pipes, fittings and water tank sector with three flagship brands: Topline, Rockwell, and Soniplast.
This acquisition is a significant step towards HIL’s commitment to further accelerate its fast-growing Pipes & Fittings business in the estimated ₹55,000 crore Indian PVC Pipes & Fittings market. With a complementary portfolio of products, technologies and market footprint, it will also help to significantly scale HIL’s production capacity and nearly double its revenue.
Commenting on the acquisition, Avanti Birla said, “The agreement to acquire Topline perfectly aligns with our ambition, and is part of our growth strategy for the Pipes & Fittings business at HIL. The combined synergies of the two organisations will broaden the product portfolio, manufacturing capacity and market reach for us.”
Avanti Birla added, “Our ambition is to be five times our current size in this category by 2026. The acquisition offers immense growth potential. It not only doubles our revenue but also immediately enhances our production capacity three-fold, especially in the strategically important Eastern region.”
Akshat Seth, Managing Director, and CEO of HIL said, “The unique capabilities of Topline perfectly complement HIL’s portfolio and opens new product segments and markets for us. This acquisition will enable our entry into large segments such as high-density polyethylene (HDPE), medium density polyethylene (MDPE) and Water tanks. In fact, we will nearly double our SKU offerings.”
Akshat Seth added, “We congratulate the founders of Topline, Pawan Kumar Palriwal and Dushyant Palriwal for having built a strong brand, an innovative portfolio of products and a state-of-the-art manufacturing facility. HIL will continue to draw upon their strong research, technology, and market expertise to take the brand to even greater heights.”
HIL is a leading manufacturer of sustainable home and building materials, and for the last 76 years has been known for its trusted brands and innovative high-quality products. With its German subsidiary Parador, HIL has manufacturing footprint across 25 locations in India and Europe, and serves customers in more than 80 countries worldwide.
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