GHCL acquires 100 pc equity in UK's Rosebys

New Delhi, July 31: Chemical and textiles company GHCL today said it has completely acquired UK's Rosebys, a leading retail home textile chain for 50 million dollars, through its oversees wholly owned subsidiary.

With this acquisition, GHCL will become a fully integrated home textile company, with its clasp across spinning, weaving, product design and development, sourcing and distribution to retail stores, a company statement said.

GHCL, on June 19, had approved the proposal to acquire Rosebys.

Rosebys reported an annual turnover of 210 million dollars, and has a strong presence in bedding, curtains and kids garments.

GHCL had earlier acquired US's home textiles company Dan River Inc, with a turnover of 250 million dollars.

The company's maximum sales and distribution network lies within the US itself.

UNI