Asian Paints Ltd today announced that it will acquire the entire front-end sales business of Ess Ess Bathroom Products Pvt Ltd.
The company, however, did not reveal the money which will exchange hands to finalise this deal.
“The company on May 14, 2014 has entered into a binding agreement with Ess Ess Bathroom Products Pvt. Ltd and its promoters to acquire its entire front-end sales business including brands, network and sales infrastructure,” Asian Paints said in a filing to the BSE on Wednesday.
The filing added that the acquisition is subject to satisfaction of certain conditions precedents and applicable statutory approvals.
Ess Ess is a prominent player in the bath and wash business segment and manufactures high quality products in this segment.
Asian Paints shares today ended at Rs. 556.95 apiece on the BSE, up 3.3 per cent from the previous close.