Godrej & Boyce acquires Somany’s PU foam unit

Godrej & Boyce Manufacturing Company, the holding company of the diversified Godrej Group, has completed the acquisition of the polyurethane foam business of Somany Foam Ltd, a container glass manufacturing company promoted by Hindusthan National Glass Industries.

A Somany group company, Hindusthan National Glass Industries is headed by Chandra Kumar Somany.

Godrej did not disclose the value of the transaction which involves the acquisition of the PU foam manufacturing plant of the company.

Somany Foam Limited, situated at BHEL Industrial Area at Haridwar, is one of the fastest growing companies that specialises in the manufacture of the different types of foams, especially polyurethane foam.

The acquisition will help Godrej Interio, the furniture business unit of Godrej & Boyce, to foray into the business of polyurethane foam manufacturing. Besides, it will fulfil the captive requirements of foam for its furniture business.

The plant has a capacity to manufacture 6,000 TPA of PU foam and the acquisition gives Godrej a ready unit for manufacturing of PU foam mattresses of different varieties.

Godrej & Boyce has a diverse range of products and services ranging from locks to aerospace, furniture to construction, appliances to custom-built critical equipment, among others.

Godrej & Boyce has 15 diverse business divisions, including appliances, AV solutions (Prima), construction, electricals & electronics, furniture (Interio) lawkim motors, locks, material handling, precision engineering, precision systems, process equipment, security solutions, storage solutions, tooling, vending (Prima).

Antique Capital was the sole advisor in the transaction.