Asian Paints Ltd. revealed on Friday that it has paid 54 crore for an additional 11% of the home decor company White Teak. The paint manufacturer agreed to pay White Teak 59.5 crore as an earn out contingent upon the attainment of certain financial objectives.
Asian Paints now owns 60% of White Teak as a whole. During the fiscal years 2025 and 2026, the remaining 40% of the equity share capital would be purchased for a maximum of 360 crores. The decision would be based on the company’s achievement of certain financial goals.
White Teak is a private limited firm that is in the business of designing, trading, or otherwise dealing with fans and decorative lights of all shapes and sizes.
The turnover of White Steak is 108.5 crores in the fiscal year 2023. Its net worth was 24.6 crores as of March 31st, 2023.
₹3,297.7 was the price of Asian Paints at the time of writing this article.
