Tata takes 76% of footwear firms
Indian conglomerate Tata International Limited (TIL) has taken a 76% stake in footwear manufacturing firms Bachi Shoes India Private Ltd (BSIPL) and Euro Shoe Components Private Ltd (ESCPL). The Bachi family will continue to hold the residual stake and will work closely with TIL to manage and grow this business.
Veda Corporate Advisors was the exclusive advisor to BSIPL and ESCPL in the transaction. The value of the deal was undisclosed.
BSIPL is a manufacturer of children’s footwear supplying to several international brands across Europe while ESCPL is a manufacturer of footwear soles.
Established in 1962, TIL is the international business gateway of the Tata Group. Finished leather and footwear is a core part of TIL’s portfolio of businesses. The company has a presence in men’s and women’s footwear segments and exports to markets including Europe and the US.
The acquisition of BSIPL and ESCPL will augment TIL’s presence in the manufacture and export of footwear and make TIL one of India’s largest exporters of footwear.
