HIL Ltd, a part of the US$ 2.9 billion CK Birla Group, has signed an agreement with Crestia Polytech for the acquisition of Topline, a popular brand of pipes and fittings in Eastern India along with Crestia’s four wholly owned subsidiaries Topline Industries, Aditya Polytechnic, Aditya Industries and Sainath Polymers for Rs. 265 crores. Crestia and its subsidiaries, with an estimated turnover of Rs. 330 crore in FY 24, are strong players in the pipes, fittings and water tank sector with three flagship brands: Topline, Rockwell, and Soniplast. This acquisition is a significant step towards HIL’s commitment to further accelerate its fast-growing Pipes & Fittings business in the estimated Rs. 55,000 crore Indian PVC Pipes & Fittings market. With a complementary portfolio of products, technologies and market footprint, it will also help to significantly scale HIL’s production capacity and nearly double its revenue. Commenting on the acquisition, Avanti Birla said...