GHCL Limited has signed an agreement to acquire over 100 % of the shares of UK’s largest home textiles retailer- Rosebys. The acquisition has been done at a cost of $40 Million.

The Equity cost of acquisition will be funded through the resources raised from various domestic & foreign institutions in the recent past. The acquisition process is likely to be completed by October 2006, after which GHCL would have a complete control over Rosebys’s operations.

Rosebys has a strong presence in bedding, curtains and kids garments with over 300 retail outlets across UK and an annual turnover of close to $ 250 million. More than 2000 are currently being employed by Rosebys in UK.

Post acquisition GHCL would become world’s only integrated home textiles company with presence across spinning, weaving, product design & development, sourcing and distribution to retail stores at a global level.