GHCL to Buy U.K. Retailer Rosebys
July 3, 2006,
New Delhi, India — GHCL Limited has signed an agreement to acquire Rosebys, a major U.K. home textiles retailer. GHCL said the acquisition price is $40 million. The deal is expected to close by October. Rosebys, with more than 300 stores, says it is the leading home furnishings retailer in the United Kingdom. GHCL puts its annual sales in the neighborhood of $250 million.
GHCL, fast becoming one of the leading home textiles firms in India, is part of Dalmia Group. GHCL reported a 2005 net profit of $15 million on sales of $111 million.
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