Prince Pipes Acquires Bathware Brand 'Aquel'

INDIA: Prince Pipes and Fittings Limited (PPFL), has announced the strategic acquisition of certain assets from Klaus Waren Fixtures Pvt Ltd, including the Aquel brand, for a total consideration of $6.6 Million. This move signals PPFL's intent to dominate the bathware segment.

This acquisition, which is expected to be funded by internal accruals, happens in two stages and represents a major advancement in Prince Pipes' expansion plan. The Aquel trademark, along with moulds and dies, are being acquired immediately as part of the transaction's first phase. In the next stage, Klaus Waren's Bhuj, Gujarat plant will be completely turned over to Prince Pipes, including with a land parcel, buildings, machinery, and manufacturing equipment as well as office furnishings and fittings.

Pending regulatory approvals, this acquisition expands Prince Pipes' manufacturing capacity and market reach in addition to improving its product line. The recently acquired properties, which span over 8 acres and have a built-up area of around 1,10,000 square feet, offer plenty of room for future growth and demonstrate Prince Pipes' long-term commitment to the industry's evolution. The Aquel brand is well-known among homeowners, interior designers, architects, and builders, particularly in Western, Central, and some Southern regions of India. It is best known for its inventive and scientifically engineered bathware products, such as faucets and bathroom accessories.

The Aquel brand will be a welcome addition to Prince Pipes' bathware lineup, according to Nihar Chheda, VP of Strategy. He said, "The acquisition of the Aquel brand represents a strategic and financial fit that will deliver significant synergies and open new market opportunities across our segments." He emphasised that the acquisition was motivated by Aquel's advanced production capabilities and operational competencies, with the goal of utilising these assets to expand Prince Pipes' bathware line and fortify the company's position in the rapidly expanding Indian bathware market.

Through this acquisition, Prince Pipes should be able to access the plumbing and bathing segments of the rapidly expanding real estate market, which together represent an addressable market of over $7.2 Billion. Prince hopes to duplicate its success in other markets and establish itself as a major force in the bathware industry by bringing in the Aquel brand, which is renowned for its heritage, cutting-edge manufacturing techniques, and strong quality control infrastructure.

Source: Prince Pipes