M&A

M&A

Rossari Biotech to acquire Tristar Intermediates for Rs.120-Cr

BSE Disclosure  

Mumbai-based, publicly listed Rossari Biotech, a speciality chemicals company, is to acquire 100% of Sarigam, Gujarat-based Tristar Intermediates at an enterprise value of INR 120 crore. Rossari will initially acquire 76% equity and the balance stake over the next three years. It plans to fund the deal entirely through internal accruals. The blend of capabilities will add scale, provide cross-selling opportunities, and accelerate growth for Rossari, it is expected. Tristar, incorporated in 1997, is engaged in the manufacture and trade of organic and inorganic chemicals, intermediaries and auxiliaries. It has 3 manufacturing units in India with a capacity of 15,000 mtpa. For FY21, it posted a turnover of INR 110.5 crore.