Prince Pipes Completes Second Phase Acquisition of Bhuj Manufacturing Facility
Prince Pipes and Fittings Limited (PPFL) has announced the completion of the second phase of an Asset Purchase Agreement (APA). This acquisition pertains to identifying assets at Bhuj, Gujarat, and reinforces the company's strategic expansion within the Bathware segment.The APA was initially announced on March 20, 2024, and was structured in two phases. The first phase involved acquiring the Aquel brand along with associated moulds, dies, and intellectual property, allowing the company to begin integrating the bathware portfolio into its offerings.
Today, the company confirmed the completion of the second phase of the APA with Klaus Waren Fixtures Private Limited. The acquired assets include a land parcel, buildings, machinery and manufacturing equipment, office furniture, and fixtures located in Bhuj, Gujarat.
These acquired assets are designated to serve as the primary manufacturing base for the company's bathware operations. This move is expected to support the scaling of the 'Aquel by Prince' product portfolio, which encompasses faucets and bathroom accessories. Management stated that the business build-out will continue through distribution expansion, product development, and targeted brand investment.
Prince Pipes and Fittings Limited is recognized as one of India's largest integrated piping solutions providers, headquartered in Mumbai, Maharashtra. Incorporated in 1987, the company has established itself in the Indian pipes and fittings industry by manufacturing polymer piping solutions across four types of polymers: CPVC, UPVC, HDPE, and PPR.
The company’s presence spans multiple manufacturing units across India. These facilities are located in:
| Location | State |
|---|---|
| Haridwar | Uttarakhand |
| Athal | Dadra and Nagar Haveli |
| Dadra | Dadra and Nagar Haveli |
| Kolhapur | Maharashtra |
| Chennai | Tamil Nadu |
| Jobner | Rajasthan |
| Sangareddy | Telangana |
| Begusarai | Bihar |
| Bhuj | Gujarat |
PPFL previously acquired the Aquel brand in March 2024. Following this, the company launched 'Aquel by Prince - Elegant-Indulgent-Stylish', a top-of-line range of faucets and sanitaryware designed to transform bathroom spaces. PPFL maintains a growing pan-India distributor base, exceeding 1,500 distributors, to enhance customer proximity and response capabilities.
PRINCEPIPE Stock Price Movement
Today, Prince Pipes And Fittings Limited shares edged higher to close at ₹228.4, marking a 0.80% gain for the day. The stock traded today on a volume of 137,630 shares.Source:
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