Apollo Pipes buys into ceramic tiles with $4.2M Mazzini deal
What's the deal? Apollo PipesDealroom has a profile for this one. Try Dealroom → has acquired a 76% controlling stake in Mazzini Tiles LLP for US$5.49M, marking its entry into the ceramics sector. The purchase runs through subsidiary Apollo Ceramics Limited.
What each side brings: Apollo Pipes makes plastic piping and building materials. Mazzini operates a manufacturing facility in Morbi, Gujarat — a major ceramic-production hub — with annual capacity of 72 lakh square metres, focused on Polished Glazed Vitrified Tiles (PGVT).
Why now? Apollo's board has approved an investment envelope of up to US$40.7M to expand into tiles and ceramics, covering manufacturing, trading, marketing, and distribution. The Mazzini deal gives it immediate capacity, an established product portfolio, and market access.
What's the endgame? Apollo wants to build a scalable platform in tiles by leaning on its existing building-material channels. Plans include lifting capacity utilisation, expanding the dealer network, growing exports, and pursuing further selective acquisitions.
"Our entry into ceramic tiles through Mazzini Tiles is a considered extension of the Group's building-materials journey," said managing director Sameer Gupta. "This gives us a strong starting platform in an attractive category."
Market context: India's ceramic tile industry is valued at roughly US$8.42B to US$8.83B, driven by residential and commercial construction and renovation demand. Singhi AdvisorsDealroom has a profile for this one. Try Dealroom → acted as exclusive M&A adviser on the transaction.
The signal: The deal reflects a broader move by building-material companies to widen their product range through bolt-on acquisitions rather than build from scratch. For Apollo, buying an operating asset in Morbi is a faster route into a large, fragmented market than starting fresh.
Read more: businessupturn.com
Image credit: Hamza Vora
