MCPI achieves forward integration in the Polyester value chain through the strategic acquisition of Garden Silk Mills Private Limited (GSMPL); expands customer connect and proximity with downstream Polyester offerings
MCPI, one of the leading producers of PTA in India for more than two decades now, has made its foray in the downstream Polyester value chain with the strategic acquisition of Garden Silk Mills Private Limited.
MCPI is a key member of The Chatterjee Group, led by Dr. Purnendu Chatterjee, is the new home to Garden Silk Mills Private Limited.
GSMPL is now a wholly owned subsidiary of MCPI. It has been a household name across the 80s and the 90s with its reputed Brand ‘Vareli’. ‘Vareli’ has hosted many leading models and ‘Miss India’ pageant title winners as the face of the Brand. From Persis Khambatta, Lisa Ray and Madhu Sapre to Namrata Shirodkar and the iconic Aishwarya Rai as its Brand ambassadors, ‘Vareli’ has been very high on Brand recall and consumer connect. Brand Vareli is all set to soar yet again with MCPI.
Garden Silk Mills Private Limited is a company dedicated to the design and creation of high-quality textile prints, fabrics, and textile intermediates for consumers and businesses. The company’s products encompass the entire value chain in textiles, specializing in the manufacture of Polyester Chips, Polyester Filament Yarns (PFY), Preparatory Yarns, Woven (Grey) Fabrics as well as Dyed and Printed Sarees and Dress Material.
The acquisition of GSMPL has created opportunities for expansion in the Polyester Yarn segment. It also takes MCPI closer to the end-user through the B2C business model and e-commerce.
The acquisition is also in alignment with MCPI’s aim to consolidate its position as a frontrunner in the Polyester value chain, steering its journey of forward integration from PTA production and supply to manufacturing of Fabrics.
Presently one of the top priorities of MCPI leadership, is to drive the cultural and business process integration of the two companies. In keeping with the best practices of MCPI, the purpose is to position GSMPL as a committed entity in ESG (Environment, Society and Governance) with a firm focus on Compliance. Necessary CAPEX investments on select area to bring GSMPL up to speed with desired level of performance is also on the radar.
Simultaneously, work is in progress on harmonization of policies and business processes.