S.J.S. Enterprises acquires 90.1% stake in Walter Pack Automotive

S.J.S. Enterprises Limited has announced the successful acquisition of a 90.1% stake in Walter Pack Automotive Products India Private Limited (WPI) for a total cash consideration of INR 2,393 million.

This major acquisition ushers in strategic collaboration between S.J.S., Walter Pack Spain, and Antolin, a global provider of automotive interior technology solutions.

The company has acquired 3,15,442 equity shares of WPI, equating to a 90.1% share of WPI’s Equity Share Capital. As a result of this acquisition, WPI now functions as a subsidiary of S.J.S. Enterprises. The purchase included an 85.0% stake from Walter Pack Spain, as well as a 5.1% stake from Indian promoter and founder, Mr. Roy Mathew, who will retain a 9.9% stake and continue to lead the WPI business.

The strategic acquisition sets a precedent for S.J.S., which has previously demonstrated its capability to successfully acquire and integrate businesses, as seen with Exotech Plastics. S.J.S.’s acquisition of WPI positions the company as a leading supplier to the automotive and consumer durables segments in Asia, thanks to WPI’s technologically advanced facilities in Pune, Maharashtra and Manesar, Haryana.

KA Joseph — S.J.S. Enterprises MD-Promoter and Co-Founder said: “We are optimistic that with the addition of WPI, SJS will witness multi-fold growth opportunities with a wider product portfolio base and increase in cross-selling opportunities. WPI’s operations in complementary adjacent technologies of IMF, IMD and IME are emerging technologies in India with high growth and high margin potential in the future.”

S.J.S. Enterprises, a significant player in the Indian decorative aesthetics industry, handles 11 product categories that include decals, logos, aluminium badges, 2D & 3D appliques, chrome-plated parts, overlays, IMD, optical plastics, and lens mask assembly.