Apollo Pipes Ltd.’s subsidiary Apollo Ceramics has acquired a 76% stake in Mazzini Tiles for Rs.40.4 crore. The transaction marks Apollo Pipes’ entry into the ceramic tiles business and expands its presence beyond its traditional piping operations.
The acquisition gives the group exposure to another building-materials segment. The company will now have an opportunity to integrate the new business with its existing distribution network, although the contribution from the acquired entity will depend on future operating performance.
