Bathroom fittings firm Roca India today said it has fully acquired Espiem Plastics making it wholly-owned subsidiary of the Roca Group, for an undisclosed sum.
Roca Group earlier held 26 per cent stake in the company.
The acquisition comes as a part of the company’s strategy to further expand its footprint in the market, the company said in a statement.
Commenting on the acquisition, Roca Managing Director Pau Abello said: “The acquisition of Espiem Plastics is a part of a well-entrenched strategic move and merges perfectly with our commitment to bring in the best-in-class products for our discerning consumers.”
Espiem Plastics has two manufacturing units in SIPCOT Industrial Park Sriperumbudur, near Chennai, and at SIDCUL Industrial Area, Pant Nagar, in Uttarakhand.