BSE listed Safari Industries, has entered into an agreement to acquire the Brands and distribution network of Genius Leathercraft, for an undisclosed amount. Indus Advisors Private Limited acted as the sole financial advisor to Genius Leathercraft on the deal. The various brands owned by Genius Leathercraft includes Genius, Magnum, Activa, Orthofit, DBH, Egonauts, Gscape and Genie. Sudhir Jatia (MD, Safari Industries) has executed an agreement with Genius Leathercraft, to buy trademark and goodwill of these brands. The deal will enable Safari Industries to enter into the school-bags and backpacks segment. “The brand acquisitions are in line with our strategy to continuously evaluate all possible growth options at Safari. The school bags market is quite attractive and we are excited with the prospects of the Genius brand.” said Piyush Goenka, partner at Tano Capital. Founded in 1989 by Nilesh Manek, Genius Leathercraft is engaged the manufacturing and sale of school bags and backpacks under the brands – ‘Genius’ and ‘Genie’. In Luggages and Executive bags it used to operate under the brand ‘Magnum’. Other Brands registered are ‘Activa’, ‘Orthofit’, ‘DBH’, ‘Egonauts’, and ‘Gscape’ . The company has a distribution network in 15 states across India reaching about 600 dealers, besides selling through Modern Retail and E-retail tie-ups. Founded in 1980, Safari Industries manufactures injection moulded plastic articles and vacuum formed plastic articles, at its plants at Mumbai and Halol, Gujarat. It offers plastic moulded suitcases, plastic molded briefcases, and vanity cases. In June last year, Tano Capital had invested about R49.8 Cr ($8.5 Mn) for a 20% stake in Safari Industries, through a preferential allotment of shares.
Source: dealcurry.comSafari Industries To Acquire Brands Of Genius Leathercraft
Industry: Other 2015-11-24