Auto components major Bharat Forge on Thursday announced that it will acquire JS Autocast Foundry India for an undisclosed sum to expand its portfolio in the industrial sector and its manufacturing footprint in southern India.
The acquisition will be made through its subsidiary BF Industrial Solutions Limited.
“JS Auto will accelerate our diversification journey and enable in addressing the decarbonisation opportunity,” Amit Kalyani, deputy managing director at Bharat Forge said in a statement. This acquisition will significantly broaden Bharat Forge’s presence, capabilities and product offerings in the industrial space, he said.
JS Auto is a leading supplier of iron castings for wind, hydraulic, off-highway and automotive applications, as per a company statement. Over the past five years, the sales of JS Auto has grown at a compounded rate of 17.7% to Rs 259 crore in FY21.
The acquisition will be through an undisclosed upfront payment and a fixed deferred payment at the end of three years.