Tata buy major stake in two shoe firms
4 January 2011Tata International (TIL) announced on December 27 that they had acquiried76% stake in Chennai-based footwear companies, Bachi Shoes India (BSIPL) and Euro Shoe Components (ESCPL). However, the financial details were not disclosed by the company.
‘These acquisitions will augment TIL's presence in the manufacture and export of footwear and take capacity to over five million pairs per year,’ TIL said in a statement.
At present, TIL has a capacity of around three million pairs a year. ‘The Bachi family will continue to hold the residual stake in Bachi Shoes India.’
BSIPL supplies children’s footwear to several international brands across Europe while ESCPL is a manufacturer of footwear soles.
TIL is the global trading arm of the Tata Group and are India's leading leather and leather products exporter. Tata own three tanneries in India.
