Greenlam Industries one of the third largest laminate manufacturer in World acquire laminate manufacturing unit of Bloom Decor for 36 Crore. This acquisition comprises entire land, building, plant, and machinery of laminate division of Bloom Dekor. Greenlam is expecting the plant to be operational by second quarter of financial year 2023.
Currently Greenlam’s products are produced in the world class state of the art manufacturing facilities situated at Behror – Rajasthan and Nalagarh – Himachal Pradesh. With this acquisition, Greenlam wil get the strategic advantage of manufacturing in West Region.
This acquisition will open new horizons for Greenlam to expand its offerings to the market by entering mass market segment of laminates. It will also allow expansion of network in semi-urban and rural areas and give leverage to its current offerings. The location of this plant offers a demographic advantage as Gujarat is a hub for the raw materials and being closer to port cuts down on logistics cost and time.
Greenlam will further be upgrading the plant and expanding its capacity. This upgradation will take the current plant production from 3.4 million laminate sheets to 5.4 million sheets annually.
Saurabh Mittal, managing director & CEO of Greenlam Industries said, “With the acquisition of Bloom Dekor’s manufacturing facility, we will further strengthen our market leadership in laminates and penetrate into the mass market segment which forms a significant share of the overall category. In addition to this, we also announced issuance of fresh equity shares on preferential basis to the extent of Rs 195 crore, on June 20, 2022. With the earlier announcement of capex to invest Rs 950 crore over a period of 2-3 years, towards setting up of third laminate plant and entry into plywood and particle board business along with fund raise and this acquisition, Greenlam is well poised to embark on the journey to the Next Orbit.”