Wendt (India) to acquire Star Diamond Tools

The Rs 3 cr deal is proposed to be made to enhance the company's offerings in the field of stationery dressers

Wendt (India) Ltd, part of Murugappa Group, has entered into an agreement with a leading Diamond Tool manufacturer, Star Diamond Tools Pvt. Ltd for the acquisition of the Diamond Dressing Tools business.

The value of the transaction envisaged is approximately Rs 3 crore and the conclusion of the transaction is subject to fulfilment of certain conditions in due course.

This acquisition is proposed to be made to enhance the company's offerings in the field of stationery dressers. It would augment Wendt's existing manufacturing capability and capacity.

Star Diamond Tools Pvt. Ltd is a closely held company having its manufacturing facility in Deonar, Mumbai. It was promoted by Girish Zaveri a pioneer in this field for over 50 years. The company is a leader in its field in India and exports its products to the US and Europe.