Sirca Paints acquired the New Wembley Products LLP. Both companies are experts in paint and accessories manufacturing. However, Sirca Paints, whose share price has increased to Rs. 334 per share, completed its acquisition successfully. The company will be working on expanding the business further. They will utilize all the resources with Sirca Paints to grow the business. The acquisition includes New Wembley Products LLP’s intellectual property rights, brand name, assets, customers, and more.
Sirca Paints acquired New Wembley Products LLP, after which the company’s share increased. It is a Slump Sale aggregate lumpsum purchase consideration of Rs. 20 Crores. Sirca Paints’ share price is currently at Rs. 334 per share. It is moving up by 1.06%. While the market opened today at Rs. 330 and closed at Rs. 334, there was a 1.06% increase in the share price. The company made the official announcement on Wednesday.
The company’s P/E ratio is 35.61. Meanwhile, the dividend yield is also 0.45%. New Wembley Products LLP will get Rs. 20 Crores purchase consideration as it was a slump sale. A slump sale refers to the process in which a company acquires either a part or the whole of it. Thus, it includes trademarks, patents, intellectual property, and more. The company will use all the resources of New Wembley Products LLP for growth.
Sirca Paints is positive about this acquisition. They are looking for SPIL’s footprint in their business. The acquired company made good revenue in the previous financial year. Thus, it is expected to have high potential growth. The acquisition will be helpful for the company in various segments. It is having a great potential in the coming year. If we talk about Sirca Paints, the company started in 2006.
New Wembley Products LLP also has expertise in thinner and paint removers. Thus, the acquisition will bring many benefits to both parties. New Wembley Products LLP has expertise in interior and kitchen applications as well. Sirca Paints India has been looking to enter this business transfer agreement for a long time. The company has high expectations from the acquisition. There is a strong possibility that the company will receive fruitful results from the acquisition. We will share the company’s results shortly. The company will start working on the expansion from now. Sirca Paints is already a market leader in the industry. Stay tuned for more information on our website.