The promoters of Mumbai-based Donear Group have announced the acquisition of OCM Woollen Mills from its existing owner, a private equity fund house, as part of the strategy to consolidate their top position in Indian textiles industry, as reported by The Economic Times. OCM is one of India’s best-quality manufacturer of premium range of high-quality all-wool and wool-blended worsted suiting fabrics.

HSA Advocates advised and acted for the promoters of Donear Group on all aspects of the transaction and was led by managing partner Amitabh Sharma and partner Aninda Pal along with principal associate Kunal Rajpal and associate Mansi Dua.

The acquisition of OCM will enable the Donear Group to expand its range of products to Indian consumers for all weather conditions and for all occasions which also gives OCM 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. In the recent past, HSA Advocates had advised the promoters of Donear Group on the acquisition of 100% stake of Grasim Bhiwani Textiles, the wholly owned subsidiary of Grasim Industries.

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