KKR Deal Bolsters JB Chemicals’ Expansion Efforts
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US private equity firm KKR is to acquire a majority stake in JB Chemicals, accelerating the Indian group's growth plans in branded formulations. Post a 54% stake acquisition for $414m via part-purchase from the founders and an open offer at INR745 per share, KKR's final stake could rise to 64.9% if founders offer more shares.
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JB Chemicals has purchased a number of leading brands from Sanzyme, which it plans to scale up and institutionalize within India. The transaction, worth over $80m, is expected to close within the next two weeks.
India’s JB Chemicals has seen double-digit growth in its international business and “market beating growth” in its domestic business. The company continues to perform well on the back of new launches, despite COVID-related headwinds.
JB Chemicals posted yet another strong quarter of growth to cap off its 2021 financial year, with broad revenue increases and a focus on ‘cost excellence’ leading to increased profit margins.