S Kumars looking for acquisitions in Europe

Mumbai: Textile firm S Kumars Nationwide Ltd is looking at potential acquisition opportunities in Europe and North America and will set up a holding and acquisition vehicle, SKNL International.

“The unit will be established in the Netherlands as it is a tax efficient jurisdiction," S Kumars said on 17 June in a statement to the BSE.

The potential targets are companies operating in fashion and design-led activities and acquisitions would result in strong business opportunities for S Kumars garment, home textile and high value cotton divisions.

Shares of S Kumars were up 4.08% at Rs114.80 in a weak Mumbai market.

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