Varroc Group acquires majority stake in Bengaluru-based Team Concepts

Varroc Group acquires majority stake in Bengaluru-based Team Concepts

Auto components maker Varroc Group’s polymer division has acquired a majority stake in Bengaluru-based automotive accessories manufacturer Team Concepts, according to a report in The Economic Times.

While the financial details of the deal were not disclosed, sources quoted in the report informed that Varroc Group acquired over 70 per cent stake in Team Concepts. Team Concepts manufactures premium automotive accessories for Toyota Motor, Renault-Nissan and for the after-market.

The deal will enable Aurangabad-based Varroc to participate in the Rs 5,000-crore organised premium automotive accessories business.

 

Categories: Acquisition

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