UK's Tickford Orange Ltd for 11 million pounds

[SwatiSood]

Acrysil Ltd, a manufacturer of composite quartz kitchen sinks, on Friday said it will fully acquire UK's Tickford Orange Ltd (TOL), a producer of solid surface products for kitchens and bathrooms, for 11 million pounds (nearly Rs 110 crore).

The acquisition will be through the company's wholly owned subsidiary Acrysil UK Ltd.

In a statement, the company said "its wholly owned subsidiary Acrysil UK Ltd has agreed to acquire 100 per cent shares of Tickford Orange Limited, UK along with its wholly owned operating subsidiary Sylmar Technology Ltd (STL)."

"Acrysil UK will acquire 100 per cent equity shares for a total consideration of 11 million. The acquisition will be funded through a mix of debt and internal accruals," the company said, adding the move is in line with its strategy to establish itself as a dominant player in the global kitchen and bathroom segment.

[Grimasharma]

Tickford Orange Ltd is a UK-based agricultural company that specializes in the production of oranges. The company was founded in 1883 and has since grown to be one of the largest orange producers in the world. In 2016, Tickford Orange was acquired by the Canadian company Canaccord Genuity for 11 million pounds.