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PE firm Advent International buys into innerwear firm Dixcy

Advent International has been investing in India for around 10 yrs; it also has an office in Mumbai

BS Reporter  |  New Delhi 

Dixcy Scott, Dixcy
(Photo courtesy: Twitter)

Global private equity firm on Thursday announced that it has agreed to acquire a significant ownership interest in Textiles Pvt Ltd. 

is a leading brand in India. Dixcy’s Founder and Managing Director, Prem Prakash Sikka, will retain a stake in the company and continue as the chairman following the completion of the transaction. 

Financial terms of the deal were not disclosed.

The transaction is Advent’s fourth investment in India since 2015, following its purchase of equity stakes in Consumer Electricals, and

Located in Tirupur, was founded in 1982 by Mr Sikka with a vision of creating a strong brand that caters to all segments of the and hosiery market.

Today, it is the exclusive manufacturer and marketer of several leading brands, including Scott, Scott UNO, Josh and & Slimz. 

The company also sells a premium range of products including such as track pants, shorts and polo t-shirts. Additionally, has begun to expand internationally by placing its products in stores across the Middle East and Singapore.

Through its network of more than 1,000 distributors, supplies products to over 120,000 retail outlets across the country. The company employs over 3,500 people and generated sales of around Rs 769 crore (US$120 million) in the financial year 2017-18. 

“We are excited to partner with Advent, a leading global investor with a strong knowledge of the Indian market and significant experience in the retail and consumer sector,” said

Raghul Sikka, Director of Dixcy, added: “We look forward to working with Advent to further expand the business, following a twin-pronged strategy involving organic growth from the existing offerings and expanding internationally to newer geographies.”

is a well-positioned brand with a strong distribution network in an attractive industry,” said Shweta Jalan, Managing Director and Head of India for  

“The market in India is expected to grow at double-digit rates over the next five years, driven by increased per capita spending and consumer demand for higher quality products. We see significant opportunities to create value by investing in distribution, sales and product innovation, and improving procurement and production efficiency.”

has significant investment experience in the retail, consumer and leisure industry. 

Over the past 27 years, the firm has invested more than $9 billion in 71 in the sector worldwide.

Advent has been investing in India for around 10 years and opened an office in Mumbai in 2009. Recent investments include Consumer Electricals, India’s premier supplier of consumer electrical goods, lighting and lighting automation systems; QuEST, a global engineering solutions provider; and ASK Group, a leading wealth and investment management business.

First Published: Thu, July 27 2017. 20:51 IST
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