Tata International Limited (TIL) has taken a 76% stake in footwear manufacturing firms Bachi Shoes India Private Ltd (BSIPL) and Euro Shoe Components Private Ltd (ESCPL). The Bachi family will continue to hold the residual stake and will work closely with TIL to manage and grow this business.
Veda Corporate Advisors was the exclusive advisor to Bachi Shoes India & Euro Shoe Components in the transaction. The value of the deal was undisclosed.
Established in 1962, TIL is the international business gateway of the Tata Group. Finished leather and footwear is a core part of TIL’s portfolio of businesses. The company has significant presence in men’s and women’s footwear segments and exports to various geographies including Europe and the USA.
The acquisition of BSIPL & ESCPL would considerably augment TIL’s presence in the manufacture and export of footwear and make TIL one of India’s largest exporters of footwear. Further TIL will now have presence in all key footwear segments, viz., men’s, women’s and children’s footwear ranges.
BSIPL claims to be India’s largest manufacturer of children’s footwear supplying to several international brands across Europe while ESCPL is a manufacturer of footwear soles. It has the capability to manufacture soles in mono & bicolor combinations in various styles and finishes and is equipped with necessary infrastructure to produce PU direct injected soles.
In the footwear space, Tano Capital had earlier invested in Moja Shoes, a Haryana-based shoe manufacturer.