Kiri Acquires DyStar North America
Kiri Holding Singapore Pvt. Ltd., owner of DyStar Colours Distribution GmbH and DyStar Colours Deutschland GmbH, has acquired all the DyStar companies in the USA and Canada. The deal will take effect on October 29th, 2010. DyStar CEO Steve Barron: “I am more than happy that DyStar L.P. will join the new DyStar Group. This allows us to further develop the successful DyStar business in the USA, Canada and Central America and grow our relationship with US retailers.”
The DyStar Companies in North America are currently owned by Platinum Equity, USA. Headquartered in Charlotte, North Carolina, DyStar North America with its sales organization and Color Solutions International runs also a production site and warehouse in Reidsville, North Carolina, and a warehouse in Southgate, California. The company employs 126 people. With textile dyes from DyStar and textile auxiliaries as well as leather chemicals produced in Reidsville, DyStar North America has a revenue of greater than 100 million US dollars.
For the DyStar shareholder, the acquisition makes perfect sense. Manish Kiri, Co-Chairman of the DyStar Group: “It is our intention to build a sustainable global DyStar organization. For that, we need a powerful sales organization in North and Central America and maintain the retailer connection.”
Other news from the department business & finance
