Supreme Industries has announced the signing of a Memorandum of Intent (MOI) to acquire the piping business of Wavin Industries Limited for $30 million plus net working capital. The acquisition is expected to be finalized by June 30, 2025, pending due diligence and regulatory approvals.
Shares of Supreme Industries Limited were trading at ₹3,354, up by ₹34.55 or 1.04% on the NSE at 11.45 am today.
The deal includes the acquisition of Wavin India’s manufacturing units in Banmore, Hyderabad, and Neemrana, along with all assets, intellectual property rights, contracts, and employees. Through this acquisition, Supreme Industries will increase its piping division capacity by 73,000 metric tons annually and gain access to Wavin B.V.’s technologies for water supply, sanitation, and building performance products for India and SAARC countries for seven years.
Wavin India, established in 2007, entered the plastic piping business in 2017 and produces PVC, CPVC, HDPE, and PPR pipes and fittings for building and infrastructure sectors. The company reported a turnover of ₹1,007.50 crores for FY2023-24, following revenues of ₹1,112.70 crores in FY2022-23.
The acquisition will enable Supreme Industries to enhance its presence in the North and South India markets and expand its technology portfolio in the building and infrastructure segment.
