Singhi Advisors acted as exclusive M&A advisors to INR 70,000 Cr+ market cap APL Apollo Group for its foray into the growing ceramic tiles sector with the acquisition of a controlling interest in Mazzini Tiles LLP executed through Apollo Ceramics Limited, a newly created wholly owned subsidiary of APOLLO PIPES LTD
Mazzini Tiles is one of the established players in the Indian Tiles industry, with a strong domestic network and a growing export footprint across key international markets.
This transaction marks Singhi Advisors’ second successful transaction with the APL Apollo Group and its 13th deal in the Building Materials space in recent past.
Mazzini Tiles has rapidly established itself as a prominent player in the Polished Glazed Vitrified Tiles (PGVT) and Large-Format Glazed Vitrified Tiles (GVT) segments. They operate a modern manufacturing facility in Morbi, Gujarat, equipped with advanced imported machinery and an installed capacity of 72 lakh sq. m. per annum.
This acquisition marks a significant strategic diversification for the APL Apollo Group and its entry into the attractive and rapidly growing INR 65000Cr Tiles sector.
The transaction also marks a significant milestone for the Indian ceramic industry, with the APL Apollo Group becoming the first new player to enter the sector through the acquisition route in the recent past.
Mazzini Tiles’ established manufacturing base and network provide Apollo Pipes Limited with a strong platform to leverage the growth potential of this fast-growing Tiles industry and build a meaningful presence in this segment.
