29 August 2023, Mumbai
In Brief
Gokaldas Exports Limited, a Bengaluru-headquartered garment exporter, announced on Monday that it has entered into an agreement to acquire Atraco Group, a Dubai-based manufacturer of apparel.
The equity value of the transaction is $55 million and will be funded by a mix of debt and internal accruals.
The acquisition will give Gokaldas a strong foothold in the US and European markets, where Atraco has a strong customer base. The transaction is expected to close in the October-December quarter of this fiscal year.
