India Business News: MUMBAI: Sheela Foam, best known for its Sleepwell brand of mattresses, will buy rival Kurlon Enterprises for Rs 2,150 crore in what is its largest acq.
The acquisition will be funded by a mix of equity, internal accruals, and debt. Although Sheela Foam has a history of acquisition, this is the first time it has been announcing two acquisitions in one go. The acquisition of Kurl-on is expected to complete before November 2023 subject to regulatory clearance, while the Furlenco transaction is likely to complete by August 2023.
Sheela Foam acquires Furlenco, Kurlon Enterprises yourstory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourstory.com Daily Mail and Mail on Sunday newspapers.