Mumbai / Ahmedabad: Astral Ltd is pleased to announce that as part of its strategy to expand its product portfolio in the building materials segment and expand its network of Astral brands and its dealers and distributors, the board of directors of Astral Have made a crucial explanation. Astral acquires controlling stake in Gem Paints for ₹ 194 cr; enters paints business.
Commenting on the acquisition, Mr. Sandeep Engineer, MD, Astrel Ltd. said, “As Paints’ acquisition will be a good addition to the product portfolio in the Astral product basket and I am confident that this will take the value of the Astral brand to new heights. Confidence will grow, so will product coordination within the network. ”
Commenting on the acquisition, Mr. Anand Gandotra, Founder and MD of Gem Paints, said: I am confident that this alliance will make Paints an all-India brand in the future and lead to multiple growths. “
