Tuesday, December 26, 2006

GHCL unit buys US firm HW Baker Linen for $6.75 mn

GHCL has acquired HW Baker Linen from US-based Best Manufacturing Goup for $6.75 mn, through a competitive bidding process. The acquisition was made through GHCL’s step-down subsidiary Dan River, Inc. HW Baker supplies textile products, amenities and guest room supplies to hotels and motels across USA, and had revenues of about $70 mn last year. This is fourth acquisition closed by GHCL over the last one year. It had earlier acquired Rosebys, a home textile retail chain in the UK, soda ash maker SC Bega Upsom in Romania and Dan River, a textile company in the US.

Read The Economic Times and Business Standard for more details.

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