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Tilaknagar Industries Ltd, which produces Indian Made Foreign Liquor, has acquired Srirampur Grains Pvt Ltd and P.P. Caps Pvt Ltd.
According to Mr Amit Dahanukar, Chairman and Managing Director, TI, the company, which operates at more than 60 per cent capacity, needed large quantities of grains that it sourced from local traders and farmers. It has over 40 brands across different price and product segments.
The acquisition of 100 per cent stake in Srirampur Grains would help TI source grains directly from the farmers, thus reducing raw material cost and leading to higher yield.
The company has also acquired P.P. Caps Pvt. Ltd that would help reduce the raw material costs relating to bottle caps, which was an important component of its expenditure. P.P. Caps was establishing a plant in Shrirampur, Maharashtra, to manufacture 25 mm and 29/35 mm caps having a capacity of 6,00,000 and 50,000 caps respectively per day.
Mr Dahanukar said the acquisition of the caps plant would bring cost and quality advantages to TI and make it self-reliant with regard to its bottle cap needs. The plant was expected to commence commercial production by June 2012.
The company, however, did not disclose the payment involved in the acquisition.
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