Sudarshan Chemical Industries Limited (SCIL) has entered into definitive agreement whereby Sudarshan Europe BV, Wholly Owned Subsidiary of the Company in Netherlands (SEBV Europe) shall acquire Global Pigment Business Operations of the Heubach Group of Germany for a total consideration of approx. Rs, 1,180 crore.

The Heubach Group has a 200-year history and became the second largest pigment player in the world after acquiring Clariant's BU Pigments in 2022. Heubach had over a One Billion Euros in revenue in FY21 and FY22, with strong global footprint especially in Europe, Americas, and the Asia Pacific region.

The proposed transaction comprises of acquisition by Sudarshan Europe B.V. of

(i) assets and business operations of (a) Heubach Colorants Germany GmbH, (b) Heubach GmbH (c) Dr. Hans Heubach GmbH, and (iv) Heubach Group GmbH and participations held by Heubach Holding Switzerland AG, in downstream Group Companies in various countries from insolvency administrator in the aforesaid countries.

(ii) 100% shareholding of Heubach Holdings S.a.r.l., a Luxemburg based Heubach Group Company having investments in shareholding in companies based in India and USA.

Post-acquisition, the combined entity will have a comprehensive pigment portfolio of high-quality products and a strong presence in major markets including Europe and the Americas. It will enhance SCIL's product portfolio, giving it deeper access to customers and a diversified asset footprint across 19 sites globally.