Supreme Industries has signed a Memorandum of Intent (MOI) to acquire Wavin Industries Limited’s piping business for $30 million plus net working capital, the company announced today.
The shares of Supreme Industries Limited were trading at ₹3,354 up by ₹34.55 or 1.04 per cent on the NSE today at 11.45 am.
The acquisition includes Wavin India’s manufacturing units in Banmore, Hyderabad, and Neemrana, along with all tangible and intangible assets, intellectual property rights, contracts, and employees. The deal is expected to be completed by June 30, 2025, pending due diligence and regulatory approvals.
Through this acquisition, Supreme Industries will increase its piping division capacity by 73,000 metric tons annually and gain exclusive access to Wavin B.V.’s existing technologies for water supply, sanitation, and building performance products for India and SAARC countries for seven years.
Wavin India, incorporated in 2007, began its plastic piping business in 2017. The company manufactures PVC, CPVC, HDPE, and PPR pipes and fittings for building and infrastructure segments. Its turnover for FY2023-24 was ₹1,007.50 crores, following revenues of ₹1,112.70 crores in FY2022-23.
The acquisition will help Supreme Industries serve North and South India markets more efficiently while expanding its technology portfolio in the building and infrastructure segment.
