Prism Johnson Acquires 50% Stake in Gujarat-Based Sunbath Sanitary

Sanitary ware

India: Prism Johnson has entered into a shareholder’s agreement to acquire 50% of the issued and paid-up capital of Sunbath Sanitary, a company based in Morbi, Gujarat, specializing in the manufacturing of sanitaryware. This acquisition involves Prism Johnson purchasing 60,00,000 equity shares, totalling 2.2 million USD. The acquisition ensures that Sunbath Sanitary becomes a joint venture of Prism Johnson, which will benefit from an uninterrupted supply of sanitaryware in a continuously growing market at a competitive price. Sunbath operates a manufacturing plant with an annual production capacity of approximately 11,000 tonnes and reported a turnover of 1.5 million USD for FY 2023-24. 

Source: Angel One