New Delhi: Sports and athleisure footwear company Campus Activewear on Wednesday said it has acquired land parcel and a building from FMCG major Marico Industries Ltd in Paonta Sahib, Himachal Pradesh. The all-cash deal was worth Rs 16.70 crore.
The deal will help Campus Activewear to expand its capacity for the manufacturing of semi-finished goods (sole and /or upper) and assembly of footwear.
This will be financed “partly through Term Loan and Internal Accruals,” it said in a regulatory filing.
This will help in “capacity expansion to meet business growth and increased backward integration”. This capacity expansion would be done within one-and-a-half years from April 2023.
In FY22, Campus Activewear’s revenue was at Rs 1,194.18 crore.