Pidilite Buys Ahmedabad-Based Blue Coat's Adhesive Unit for Rs 263 Crore

Mumbai: Pidilite Industries on Tuesday said it has acquired the adhesive business of Blue Coat for Rs 263.57 crore.

"Pidilite has acquired the adhesive business of Ahmedabad-based Blue Coat, which is engaged in manufacturing and selling wide range of adhesives and textile chemicals, on a slump sale basis for a cash consideration of Rs 263.57 crore," the company said in a statement.

Blue Coat, which has a manufacturing plant in Baddi in Himachal Pradesh, has brands including Bluecoat Plus, Bluecoat Marine, Bluecoat D3, Bluecoat Aqua, Bluecoat Dual, Bluegrip 5000, Bluecoat A1, among others.

"Pidilite Industries will continue to support and grow these brands," it said.