Amber Group Expands Horizons with Strategic Unitronics Acquisition

Amber Group, a contract manufacturer, is set to acquire a 45.13% controlling stake in Israel-based Unitronics for over Rs 400 crore, marking a strategic expansion into industrial automation. The acquisition aims to enhance growth and capabilities, providing significant synergies and broadening the company's portfolio into global markets.

Amber Group, a leading contract manufacturer in the consumer durables and electronics industry, has announced plans to acquire a controlling stake in the Israeli company Unitronics. The acquisition, valued at over Rs 400 crore, will be conducted entirely in cash.

Through its subsidiary ILJIN Electronics India, Amber Group will acquire 40.24% of Unitronics' share capital, effectively securing a 45.13% controlling stake when combined with the holdings of Unitronics' Joint Chairman Haim Shani. This move marks Amber Group's strategic entry into the industrial automation sector.

The acquisition will enable Amber Group to leverage ILJIN's manufacturing prowess, enhancing operational synergies, fostering innovation, and strengthening Unitronics' market presence in India and beyond. With sales networks in the US and Europe, Unitronics contributes significantly to the global industrial electronics market.

(With inputs from agencies.)