M&A

M&A

Germany's TWE Group buys into Obeetee's textile arm

Economic Times  

TWE group GmbH, an international nonwoven solutions company, has acquired a 5% stake in Obeetee Textiles, a wholly-owned subsidiary of Delhi-headquartered carpet maker Obeetee Group. TWE OBT Pvt Ltd, the newly set up 50:50 joint venture (JV), will expand into untapped markets, diversify revenue streams, and foster stronger relationships with customers in India and neighbouring countries. Obeetee has a factory in Rudrapur, Uttarakhand.