Pidilite Industries Ltd. — M&A Activity 2020

Feb 27, 2020

Pidilite

27thFebruary, 2020

The Secretary BSE Ltd. Corporate Relationship Dept , 14thfloor, P. J. Tower, Dalai Street, Fort Mumbai - 400 001 Stock Code - 500331

The Secretary National Stock Exchange of India Ltd. Exchange Plaza, Plot no. C/1, G Block, Bandra-Kuria Complex, Bandra (E) Mumbai - 400 051 Stock Code - PIDILITIND

Dear Sir.

Sub: Intimation

The Company has entered into a definitive agreement with Tenax S.p.A, Italy (Tenax Italy) for acquiring 70% of the share capital of Tenax India Stone Products Pvt. Ltd (Tenax India) for cash consideration of approx. Rs 80 crores (depending upon actual cash and working capital at the time of closing), subject to certain preconditions being met prior to closing of the transaction, Tenax Italy is the leading manufacturer of adhesives, coating, surface treatment chemicals and abrasives for the marble, granite and stone Industry. Tenax India, is a subsidiary of Tenax Italy engaged in the sales and distribution of Tenax Italy products for the retail market in India. This acquisition by the Company will enable Tenax India to fully leverage the sales, distribution and marketing the capability of the Company in India and SAARC markets.

The above transaction is not a related party transaction.

Please find attached a press release in this regard.

Thanking You,

Yours faithfully, For Pidilite Industries Limited

Puneet-IEC ar Company Secretary

Encl : as above

Pidilite Industries Limited

Corporate Office Ramkrishna Mandir Road Andheri - E, Mumbai 400059, India

Regd. Office Regent Chambers, 7th Floor Jamnalal Bajaj Marg 208 Nariman Point Mumbai 400 021

+ 91 22 2835 7000 F + 9122 28357470/7831 www.pidilite.com CIN:L24100MH1969PLC014336

Pidilite Industries announces the acquisition of majority stake in Tenax India Stone Products Pvt. Ltd. an Indian subsidiary of Tenax SPA (Italy)

National, Feb 27, 2020: Pidilite Industries Ltd. (Pidilite) a leading manufacturer of adhesives, sealants, construction chemicals, consumer adhesive, and specialty chemicals has entered into a definitive agreement with Tenax SPA (Tenax Italy) for acquiring 70% of the share capital of Tenax India Stone Products Pvt. Ltd. (Tenax India) for cash consideration of approx. Rs. 80 crore (depending upon actual working capital and cash at the time of closing).

Tenax Italy is the leading manufacturer of adhesives, coating, surface treatment chemicals and abrasives for the marble, granite and stone Industry. Tenax India, incorporated in 2005, is a subsidiary of Tenax Italy engaged in the sales and distribution of Tenax Italy products for the retail market in India.

Mr. Bharat Puri, Managing Director, Pidilite Industries Ltd. said "This acquisition will help expand Pidilite's presence in the fast-growing adhesives, coatings and surface treatment chemicals market for the marble and stone Industry and bring world class technology to India by investing in a manufacturing plant"

Mr. Igino Bombana, Group President, Tenax SPA said "We are excited about the partnership between Pidilite and Tenax spa to consolidate our presence in the fast-growing retail market in India and adjacent SAARC markets" through Tenax India Stone Products Pvt. Ltd.

Post the acquisition, Tenax India will become a subsidiary of Pidilite. This acquisition by Pidilite will enable Tenax India to fully leverage the sales, distribution and marketing capability of Pidilite in India and SAARC markets. Tenax Italy will continue to be a partner (having 30% stake) in Tenax India and provide full support to Tenax India through its technical and market understanding of marble, granite and stones business in India and SAARC markets.

About Pidilite:

Pidilite Industries Limited is a leading manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY (Do-It-Yourself) products and polymer emulsions in India. Our products range also includes paint chemicals, automotive chemicals, art materials, and stationery, fabric care, maintenance chemicals, industrial adhesives, industrial, textile resins and organic pigments & preparations. Most of the products have been developed through strong in-house R&D. Our brand name Fevicol has become synonymous with adhesives to millions in India and is ranked amongst the most trusted brands in the country. Some of our other major brands are MSeal, Fevikwik, Fevistik, Roff, Dr.Fixit, Fevicryl, Motomax and Hobby Ideas.

About Tenax SPA

Tenax SPA is a leading manufacturer of Chemicals and abrasives for the stone, quartz and ceramic Industry based in Italy. Tenax India Stone Products Pvt Ltd is a subsidiary of Tenax SPA and is engaged in the sales and distribution of chemicals and abrasive products for the stone Industry in India.