Doms Industries Pvt. Ltd, controlled by Italian stationery company F.I.L.A. Group, has acquired a 30% stake in toymaker ClapJoy Innovations for an undisclosed amount. The move is part of Doms Industries’ strategy to expand into newer and allied product categories apart from marking its presence in the toy market in India.
Doms Industries is gearing up for an initial public offer in the next 12-15 months, according to recent media reports.
The funds will enable ClapJoy to expand its product portfolio and manufacturing capabilities. “While Doms will get access to ClapJoy’s portfolio of products, ClapJoy will benefit from Doms Industries’ distribution network, consumer understanding and product engineering, which shall help the company increase its market share and grow its revenue through pan India presence,” the company said in a statement. ClapJoy is a Delhi NCR-based toy manufacturing and marketing firm that sells children’s games and toys. Its portfolio includes wooden toys, flashcards, board games, activity kits, crochet toys and educational and creative toys manufactured using natural material and non-toxic colours. ClapJoy has monthly sales of ₹60 lakh, with 5,000 units being sold monthly. “ClapJoy’s range of toys will bring an added element of fun and joy to our existing portfolio, furthering our commitment to providing quality products to our consumers. With the alignment of synergies of our two companies, we look forward to unlocking the potential of the toy segment and becoming a leading player in this segment,” said Santosh Raveshia, managing director of Doms Industries. Neha Agarwal, director of ClapJoy, said the two companies would work toward developing indigenously designed and manufactured products.
Thacker & Associates, a transaction advisory firm based in Mumbai, was the exclusive adviser on the deal.
Based in Umbergaon, Gujarat, Doms Group was founded in 1975. Today Doms manufactures and sells over 500 stock-keeping units within the scholastic stationery, scholastic art, fine art, hobby and craft, office stationery and paper stationery product segments.