Tata International (TIL) on Monday announced the acquisition of 76 per cent stake each in Chennai-based firms Bachi Shoes India Pvt. Ltd. (BSIPL) and Euro Shoe Components Pvt. Ltd. However, the financial details were not disclosed by the company.
“These acquisitions will augment TIL's presence in the manufacture and export of footwear and take the capacity to over five million pairs annually,” TIL said in a statement. At present, TIL has a capacity of around three million pairs a year.
“The Bachi family will continue to hold the residual stake in Bachi Shoes India Pvt. Ltd..”
BSIPL supplies children's footwear to several international brands across Europe while ESCPL is a manufacturer of footwear soles.
TIL is the global trading arm of the Tata Group and a leading leather and leather products exporter. It has a state-of-the-art leather tanning and finishing facility at Dewas (near Indore, Madhya Pradesh).
