NEW DELHI: JK Tire Industries today said it has acquired three tire businesses of Cavendish Industries, which owns Birla Tires, for an enterprise value of Rs 220 crore.

The plant is located at Laksa (Hariwar) and manufactures a wide range of tires, inner tubes and gaskets. The acquisition was funded by internal accruals and debt.

With this acquisition, JK Tires India and Mexico will have 12 Indian and Mexican home manufacturing plants.