Apparel major Raymond today said it has inked a pact to acquire Robot Systems, a wholly-owned subsidiary of Gokaldas Exports, for an undisclosed amount.
Silver Spark Apparel, a unit of Raymond, has entered into a share purchase agreement with Gokaldas Exports, Robot Systems and Gautam Chakravarti for acquisition of the entire shareholding in Robot Systems, Raymond said in a filing to the BSE.
The said transaction will be subject to the terms and conditions mentioned in the agreement entered into by the parties, it added.
Raymond is one of the largest integrated manufacturer of worsted fabric in the world. Gokaldas Exports is one of the country's largest manufacturers and exporters of apparels.
