B2B ecommerce platform Moglix on Thursday announced the acquisition of paper manufacturing firm Khatema Fibres for Rs 80 crore and said it would help the platform expand its product portfolio and accelerate growth. The company also said it is looking to expand into five new manufacturing categories as part of its business growth plans.
The addition of Khatema Fibres broadens the company’s product portfolio, reinforcing its market position and operational efficiency. This acquisition complements Moglix’s recent launch of Next Day Delivery in over 12 cities, which will soon be expanded to 40 cities to cater to the evolving needs of the B2B segment, according to a statement.
The total deal size is Rs 80 crore, it said.
Founded in 1990 in Khatema (Uttrakhand), Khatema Fibres specialises in sustainable paper manufacturing with an annual capacity of 50,000 metric tonnes with a diverse product range, including speciality high-strength kraft paper, interleaving paper, machine-glazed and machine-finished papers, various tissue options, virgin test liners, and food-grade packaging solution, among others.
“This acquisition not only expands our manufacturing footprint but enables us to deliver even greater value as we meet the dynamic demands of the market,” said Rahul Garg, Founder and CEO of Moglix.
The Khatema plant has the potential to scale up to 75,000 tonnes, a goal Moglix is determined to achieve as it drive growth in the manufacturing sector, it said.
The ecommerce platform said it offers over 700,000 industrial items, services more than 19,000 PIN codes across the country, and supports over 1,000 large manufacturers and 3,000-plus factories.
Source: Economic Times