The promoters of Mumbai-based Donear Group acquires OCM Woolen Mills as part of the strategy to consolidate their top position in Indian textiles industry. The acquisition of OCM will enable the Donear Group to expand its range of products to the Indian consumers for all weather conditions and for all occasions. OCM manufactures a premium range of high-quality all-wool and wool-blended worsted suiting fabrics
This acquisition makes Donear Group Indiaâ€™s largest branded menswear fabric manufacturer. In a win-win deal, OCM gets access to the management expertise of the promoters of Donear Group to expand its product range and distribution footprint within
India as well as in the overseas markets. The distributors of OCM, who generally witness lower sales during non-winter seasons, will be able to sell an additional range of products, especially Giza, Supima, wrinkle-resistant cotton fabric for jackets, trousers etc. and Terry Rayon fabric for suit length.
Donear Group started its major take-off in 1994 from Amritsar. OCM is Indiaâ€™s best-quality manufacturer of woolen and worsted fabrics, and thanks to their skilled manpower for ensuring best quality of fabric. OCMâ€™s tweed suiting material is extremely popular for blazer and jacket fabric across India. No other manufacturer in India has been able to match the quality of OCM blazer and jacket of Tweed fabric till date. We have charted out ambitious and aggressive plans to promote the OCM brand, said Rajendra Agarwal, a promoter of the Donear Group.
OCM Woolen Mills is the second major acquisition by promoter of the Donear Group after it acquired GBTL Ltd. (formerly known as Grasim Bhiwani Textile Limited), the PV Suiting Fabrics business earlier in July this year. Like GBTL Ltd, OCM Woolen Mills will continue to operate as an independent unit manufacturing woolen fabric products under the guidance of Donear Group management.
A company press release said that there will not be any change in the day-to-day management or existing policies at the OCM unit. Post-acquisition, all entities will continue to focus on their respective brands as separate teams and the management will continue its efforts to strengthen and utilise their competencies to serve to their customers.
With acquisition of OCM, the Donear Group will be able to offer a complete range of fabrics under a bouquet of brands including OCM, Ferrino Mizzoni, GBTL-Grasim (license user of TM Grasim), Donear, Graviera, Royal Classico, Donear Cottonsâ€“Belboni & Cotonova, iTR Terry Rayon Suiting and Bronson Shirting.
Donear Industries Limited is well-recognised in India and outside as one of the best-quality product makers and innovators, who have been in business for 40+ years. The promoters treat textiles as the Groupâ€™s core business and have been putting best efforts to grow year on year. It has production capacity of around 55 million meters per annum with latest technologies and machinery at Surat. Apart from being a leader in India, Donear also has a strong presence in over 20 countries globally.
Originally a part of SK Birla Group (Birla VXL), OCM was acquired by private equity funds managed by WL Ross & Co. LLC in 2006. Since that acquisition, OCM has undergone extensive transformation across manufacturing, product development to revitalise its brand and strengthen its business. OCMâ€™s product design function is at the forefront of global styling with design office in Biella, Italy. Due to its superior product quality, institutional customers such as hospitals, airline and hospitality companies, schools and the government undertakings consider OCM as their preferred supplier of worsted fabric.
Post-acquisition, all entities will continue to focus on their respective brands as separate teams and the management will continue its efforts to strengthen and utilize their competencies to serve to their customers.
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