EFC (I) Limited to Acquire 100% Stake in Ultrafresh Modular Solutions Limited

EFC (I) Limited (“EFC” or the “Company”), a Real-estate-as-a-Service (REaaS) Company operating across managed office spaces, Design & Build (D&B) Turnkey Solution and furniture manufacturing, is pleased to announce that it has entered into a Share Acquisition Agreement to acquire 100% stake in Ultrafresh Modular Solutions Limited (“Ultrafresh”), subject to fulfilment of the conditions precedent under the agreement.

The acquisition marks a strategic and inorganic expansion for EFC’s furniture manufacturing and D&B businesses, strengthening EFC’s manufacturing capabilities with Ultrafresh’s established production facility for modular furniture solutions in North India.

Ultrafresh: An Established Modular Furniture Solutions Brand

Ultrafresh Modular Solutions Limited (“Ultrafresh”), a 51% subsidiary of TTK Prestige Limited, is an established player in India’s modular solutions segment, with a 25-year industry presence. The Company offers modular kitchens, wardrobes and other customised modular furniture solutions through an integrated model spanning design, manufacturing, supply and installation, with a strong focus on quality, functionality, customisation and contemporary design.

Ultrafresh owns fully operational manufacturing facility at Nalagarh, Himachal Pradesh, and a dedicated design and execution team. Its factory-manufactured and professionally installed modular solutions positions Ultrafresh to address the growing demand for modular furniture solutions in India.

Strategic Fit with EFC

The proposed acquisition is a natural extension of EFC’s existing furniture manufacturing and Design & Build businesses. Ultrafresh’s modular kitchens, wardrobes and customised interior solutions are complementary to EFC’s existing product and service offerings.

The acquisition will combine EFC’s manufacturing, supply-chain and Design & Build capabilities with Ultrafresh’s dedicated design and execution team, and manufacturing facility at Nalagarh, Himachal Pradesh.

Ultrafresh’s manufacturing presence in North India will also provide EFC with a strategic regional footprint and strengthen its manufacturing and distribution capabilities.

The combination is expected to create synergies across design, manufacturing, supply, installation and customer reach, while expanding EFC’s product portfolio and strengthening its presence in the organised modular solutions market.

Commenting on the proposed acquisition, Mr. Umesh Sahay, Charman & Managing Director, EFC (I) Limited, said:
“The acquisition of Ultrafresh marks an important step in the expansion of EFC’s existing Real Estate as a Service platform. It strengthens our established furniture manufacturing and Design & Build businesses while adding a strong modular solutions platform to our portfolio. Ultrafresh’s design capabilities and manufacturing presence in North India complement EFC’s existing capabilities and provide a strong foundation to expand our furniture and interior solutions business across markets.”