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Donear Group acquires GTBL, Grasim’s PV Suiting Fabrics business

Thursday, July 13, 2017
By A Business Reporter

In a strategic move that will significantly enhance its profile and addressable market in the global textiles space, the Donear Group has announced acquisition of Grasim Bhiwani Textile Limited, the Poly-Viscose Suiting Fabrics subsidiary of Grasim Industries. The acquisition of Grasim Bhiwani Textile Limited (GBTL) gives Mumbai-based Donear Group a strategic edge in global textiles business in terms of world-class production capabilities to market products and access to the marquee customers globally.

GBTL is the country’s largest manufacturer of PV and PW Suiting, selling its products under the “Grasim” and “Graviera” brands in India and 25+ countries outside India. The biggest strengths of GBTL are its quality-conscious trade partners and global customers, who have been associated with them for a long time. GBTL caters to international fashion houses in the US and the UK, supplying fabric to them for making garments. These garments are available in some of the largest retail chain stores. The DonearGroup aims to build further on GBTL’s existing strengths.

Talking about the acquisition, Rahul Rajendra Agarwal, Director, Donear Group said, “The GBTL acquisition is driven by our desire to expand our business both PAN India as well as in global markets, and progress towards our strategic goal to become the recognized leader in products and services we offer and increase our market share.”

S Krishnamoorthy, MD of GBTL, appointed by Donear Group said, “Taking on the vision of “Make in India", both Donear & GBTL will maintain their individual identities and will stay committed to offer best products and services to their valued customers as one team.”

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