Raymond
Acquisitions
3
Major Deals Covered
$82M
Disclosed Deal Value
Raymond's largest disclosed acquisition here is Maini Precision Products (MPPL) for $82M in 2023. This page covers 3 major deals from 2002 to 2023, each with its price where disclosed and the reason behind it.
| Company | Year | Price | Purpose |
|---|---|---|---|
| ColorPlus | 2002 | Undisclosed | Raymond acquired the ColorPlus casualwear brand. |
| Maini Precision Products (MPPL) | 2023 | $82.0M | Acquired a 59.25% stake for ~$79.1 million (₹682 crore) through Ring Plus Aqua, a JK Files subsidiary, to enter aerospace, defence and EV components. |
| Maini Precision Products Limited (MPPL) | 2023 | Undisclosed | Strengthen engineering business in EV, aerospace, and defense. |
2023
$82M
Acquired a 59.25% stake for ~$79.1 million (₹682 crore) through Ring Plus Aqua, a JK Files subsidiary, to enter aerospace, defence and EV components.
Formed the base of Raymond's current aerospace and precision engineering business.
2023
Strengthen engineering business in EV, aerospace, and defense.
2002
Raymond acquired the ColorPlus casualwear brand.
Raymond's growth plan is to tilt the mix toward aerospace and defence: add capacity, win multi-programme orders (such as a September 2026 order covering more than 300 part numbers), move up to higher-value assemblies, and use auto and EV precision parts as a steady base business.
Raymond Limited earns money by manufacturing engineered components for industrial customers under long-term supply contracts. 1. Aerospace & Defence (JK Maini Global Aerospace): machined and assembled parts for aircraft engines, airframes and defence programmes, sold to global OEMs and tier-1 suppliers; this is the fastest-growing and highest-margin segment, with an order book above ~$691 million (₹5,960 crore) spread over about 10 years. 2. Precision Technology & Auto Components (JK Maini Precision Technology): precision parts for passenger and commercial vehicles, EV components, flywheel ring gears and flexplates. 3. Engineering tools: steel files and hand tools from the legacy JK Files business, sold domestically and exported. Apparel and real estate revenue no longer sits in Raymond Limited.
In November 2023 Raymond agreed to buy a 59.25% stake in Maini Precision Products for ~$79.1 million (₹682 crore) through Ring Plus Aqua, a JK Files subsidiary, funded by debt and internal accruals.
In 2023 Raymond sold its consumer care business, including Park Avenue deodorants and KamaSutra, to Godrej Consumer Products for ~$328 million (₹2,825 crore) to reduce debt and focus its portfolio.
Raymond acquired ColorPlus in 2002; the brand is now part of Raymond Lifestyle Limited.
In 2003, Raymond acquired premium smart-casualwear brand ColorPlus for approximately ₹40 crore, giving Raymond immediate leadership in high-end cotton chinos, polo shirts, and casual office wear.
In April 2023, Raymond sold its consumer care business (including Park Avenue deodorants and Kamasutra wellness products) to Godrej Consumer Products for ₹2,825 crore in cash, enabling Raymond to become completely net debt-free.
In November 2023, Raymond acquired a 59.25% stake in Maini Precision Products Limited (MPPL) for ₹682 crore, combining it with JK Files to create a major precision engineering and aerospace manufacturing platform.
Raymond announced a composite scheme of arrangement demerging its lifestyle textile and retail apparel business into Raymond Lifestyle Limited, and demerging Raymond Realty into an independent listed entity, leaving engineering under Raymond Limited.
In 2006, Raymond formed a 50:50 joint venture with European denim giant UCO Sportswear (Raymond UCO Denim), operating an advanced ring-denim manufacturing mill in Yavatmal, Maharashtra.
Rather than acquiring foreign luxury labels, Raymond partners with them: manufacturing bespoke tailored garments for brands like Hugo Boss while securing exclusive distribution rights for premium Italian fabrics in India.
By transferring its Thane real estate land parcels into a dedicated pure-play developer (Raymond Realty), Raymond unlocked shareholder value and avoided cross-subsidizing manufacturing with real estate capital.
Post-demerger, Raymond Lifestyle focuses on bolt-on acquisitions in digital-first D2C fashion brands and regional ethnic wear, while the engineering entity evaluates aerospace precision component additions.
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