Magicrete achieves a milestone by acquiring a majority stake in Bengaluru-based Maxlite. This acquisition, completed with finesse, amplifies Magicrete’s stronghold in the AAC Blocks market industry.
With Maxlite’s two manufacturing facilities nestled in Karnataka and Tamil Nadu, boasting an annual capacity of 5,00,000 m³, Magicrete’s total installed capacity soars to an impressive 1.8 million m³ per annum. This move not only fortifies Magicrete’s dominance but also paves the path for expanded reach and market penetration, particularly in the high-potential region of Southern India.
Sourabh Bansal, Co-founder and Managing Director, Magicrete, expresses his enthusiasm, stating, “This strategic move marks a significant leap in our pan-India growth trajectory. We are highly optimistic about the myriad opportunities and synergies between the two companies that will unfold in the near future.” He emphasises, “This acquisition not only solidifies our leadership in the industry but also ushers access to new high-potential geographies of Southern India. We as a company now have the ability to serve from Kashmir to Kanyakumari.”
R Darshan Kumar, Managing Director, Maxlite, shares his insights, affirming the strategic prowess of this collaboration. “Maxlite, as one of the first AAC plants in Bangalore, brings a history of innovation to the table,” he remarks. “The expansion plans in South India further enhance the strategic synergy between two industry leaders, combining Magicrete’s stronghold in the North and West with Maxlite’s pioneering position in the South.” Kumar highlights, “The joint entity aims to capitalise on regional strengths, leveraging collective expertise and resources to solidify their market dominance.”
This acquisition not only signifies a consolidation of power within the AAC Blocks industry but also heralds a new era of innovation and market expansion for Magicrete.