Leading Indian tyre manufacturer JK Tyre and Industries has announced the completion of acquisition of Cavendish Industries at an enterprise value of Rs.2,200 crore. The acquisition brings three Birla tyre business undertakings housed in Cavendish Industries located in Laksar, near Haridwar in Uttarakhand, into the JK Tyre fold and raises its plants count to 12 – nine in India and three in Mexico. The acquisition funded by a mix of internal accruals and debt will make Cavendish a subsidiary of JK Tyre.

With Cavendish in its kitty, JK Tyre will benefit with additional truck and bus radials capacity, while also getting access to two and three wheeler tyre market. Present in over 100 countries, JK Tyre also has interests in cement, paper, oil seals, auto components, defence electronic systems and others.

Did You Know?

• JK Tyre & Industries Ltd is an Automotive Tyre, Tubes and flaps manufacturing company based in Delhi, India. The name JK is derived from the initials of Kamlapatji (1884–1937) and his father Seth Juggilal (1857–1922).
• The company is the market leader in Truck/Bus Radial tire in India and is the only tyre manufacturer offering the entire range of 4 wheeler radials for Trucks, Buses andCars.
• JK Tyre has a worldwide customer base in over 80 countries across all 6 continents. It is a part of J. K. Organisation group of Companies.