HIL, part of the USD 1.8 billion diversified CK Birla Group, has announced the acquisition of Parador Holdings GmbH, a Germany based, vertically integrated, full-range supplier which designs, manufactures and distributes a wide range of flooring solutions including resilient flooring, laminate and engineered wood floors, wall & ceiling panels, skirtings and related accessories.

Parador, with the turnover of €142.2 million, is the category leader in design and innovation with all products developed internally and produced with "Made in Germany" and "Made in Austria" quality. The Company has long-standing relationships with all major customers in Europe. The combined entity will continue to enjoy a leadership position in Building Material segment in India with strong capabilities in Europe. Parador has a history of profitable operations and expects sustained growth in revenues and earnings going forward.

The acquisition will enable HIL's transition into a global player in the Building Materials segment. It will facilitate entry into Flooring Solutions, a segment, which is highly complementary to HIL's current product portfolio and also provide a renowned brand with strong R&D and design capabilities.

The strong leadership team at the helm, at Parador will continue to be responsible for day to day operations and drive the business forward.

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